NEW JERSEY (PIX11) – New Jersey residents are feeling the pain of paying about 20% more for their electricity.

Rake hikes started in June, with lawmakers already trying to push back against the budget-busting move. A proposed bill introduced by state Sen. Britnee Timberlake would cap the markup at 2% every five years – and that move could roll back the latest increase, which was announced back in February.

The legislation also calls for energy companies to fund a subsidy program for low-income billpayers.

The rate hikes are as follows: • Atlantic City Electric: 17.23% • Jersey Central Power & Light: 20.2% • PSE&G: 17.24% • Rockland Electric: 18.18%

Utility companies argued that electricity demand is rapidly increasing and the growth supply isn’t keeping up. The state’s last two

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