There is a need for development of new resources to meet the growing demand for electricity at reasonable rates for consumers, with assurances of quality and reliability. All of this can be done while respecting the environment through proper efficiency programs and use of our renewable resources. Let s quickly talk about the changing nature of demand. All computer devices that move electronic bits and bytes are driven by electricity and the uninterrupted flow of electricity is critical to this new economy. The backbone of our new economy is the electric power grid.
All major outages impact the entire economy.
And electricity is only as clean and efficient as the fuel that is used to produce it. We must liberate New Jersey from dependence on the constraints of the current grid if we are to maintain our role as a state that fosters its current business customers and attracts new businesses to New Jersey. This is especially important, since our electric utility companies mostly are no longer based in New Jersey. More importantly with the pending takeover of GPU by First Energy of Ohio, GPU headquarters will be in Ohio and New Jersey GPU will be part of a new conglomerate based in Ohio. Let s look at what we used to call Atlantic Electric.