In Madison, New Jersey, John Hoover and Carmen Pico, both candidates for the Madison Borough Council, said they hope residents will soon see a 10 percent decrease in their electricity bills, the Madison Eagle reports.

According to the news source, the two local politicians say the increases could come once lower wholesale rates become available, and that if they're elected, they will push to make sure the rates fall.

"Over the first two years of the new wholesale rates, Madison’s electric utility should realize at least $4 million of additional savings annually," the candidates said in a joint statement. "These savings can be used by the council in a variety of ways, including lowering electric rates. A 10 percent residential rate reduction would utilize about a quarter of the total. The balance should be used for the serious capital improvements that have been identified in the borough’s long-range capital plan."

According to the Milwaukee Journal Sentinel, rising electricity rates have brought an old debate back on the table, as lawmakers discuss implementing energy deregulation that if passed, would allow customers to shop around for their own energy plans and choose the best electricity rate.

Author: Adam Cain

Adam Cain

Adam Cain is a content writer for who has an avid interest in energy news and trends affecting consumers at the national, state, and local level.