PSEG CEO Ralph LaRossa appeared on the recent episode of “Minding Your Business” on News 12+, where he discussed New Jersey’s energy challenges and future opportunities. The conversation took place during NJBIA’s Energy and Environmental Policy Conference, with LaRossa speaking to NJBIA CEO Michele Siekerka.
LaRossa emphasized the importance of developing an integrated resource plan to address rising energy demand and reduce costs in New Jersey. He noted that new power generation facilities have not been built in the state for over a decade.
“We haven’t built a new power plant here since we did back in Sayreville over 10 years ago. So, what has happened? We’ve put a lot of extension cords into Pennsylvania and so any of the extra load that we are now servicing is coming from Pennsylvania,” LaRossa said.
He added, “It’s a simple supply/demand equation and there’s not a market signal that’s telling the generators to come in and build and that’s not just here they’re not building in Pennsylvania, they’re not building in a bunch of different places to the level that the demand is coming up to so it’s a challenge for us and it isn’t going away any time soon.”
LaRossa concluded by stating, “We need to start with a plan and we need to start now.”
“Minding Your Business” is produced by NJBIA as a weekly television program. The show has received seven Telly Awards over the past three years, including a gold award in 2024 for Interview & Talk Show category.
