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Bill > A2479

NJ A2479

NJ A2479
Prohibits public utility from filing rate increase petition under certain circumstances.

summary

Introduced
02/14/2022
In Committee
02/14/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill prohibits the Board of Public Utilities (board) from considering, reviewing, or approving, and prohibits a public utility from being permitted to file, a request for a rate increase during any period of time when: 1) the board has directed the public utility to file a base rate case to determine whether the public utility exceeded its authorized rate of return; or 2) the public utility has been notified by the board that the board is investigating whether the public utility exceeded its authorized rate of return. This prohibition shall continue until such time as the board shall determine that the base rate case proceeding or the investigation has been concluded.

AI Summary

This bill prohibits the Board of Public Utilities (BPU) from considering, reviewing, or approving, and prohibits a public utility from filing, a request for a rate increase during any period when the BPU has directed the utility to file a base rate case to determine if it exceeded its authorized rate of return, or when the BPU is investigating whether the utility exceeded its authorized rate of return. This prohibition remains in effect until the BPU determines the base rate case or investigation has concluded. The bill also modifies existing law to provide that the BPU shall approve a rate increase upon being satisfied it is just and reasonable, except as provided in this new prohibition.

Committee Categories

Transportation and Infrastructure

Sponsors (2)

Last Action

Introduced, Referred to Assembly Telecommunications and Utilities Committee (on 02/14/2022)
(3 Companion Bills)

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