Bill > A773

Introduced Session

This bill requires an electric public utility (utility) to file, within 90 days of the effective date of the bill, a proposed plan with the Board of Public Utilities (BPU) for the procurement and installation of "smart meters" and "smart meter technology," as defined in the bill, at customer premises. The BPU is to approve or modify the smart meter plan within 180 days of plan submittal. The plan is to describe the smart meters and smart meter technology the utility proposes to furnish, under the condition that they be provided: 1) upon a request from a customer that agrees to pay the cost of the smart meter at the time of the request; or 2) in new building construction. The bill requires that the smart meter plan include a provision requiring a utility to make available, with customer consent, direct smart meter access and electronic access to customer smart meter data to third parties, including electric power suppliers and providers of an electric related service. The bill requires a utility to file with the BPU, within 24 months of the effective date of the bill, one or more proposed time-of-use electric rates and real-time price plans for customers provided with smart meters and smart meter technology. The BPU is to approve or modify the time-of-use rates and real-time price plan within 180 days of plan submittal. A residential or commercial customer may elect to participate in a time-of-use rates or real-time price plan. The bill allows a utility to recover reasonable and prudent costs of providing smart meters and smart meter technology, as determined by the BPU, through a base rate recovery proceeding or an automatic adjustment clause. Eligible cost recovery is to include annual depreciation and capital costs over the life of the smart meters and smart meter technology, in accordance with a depreciation schedule not to exceed 15 years, and the cost of any electric distribution system upgrades that the utility may require to enable the use of smart meters and smart meter technology which are incurred, less operating and capital cost savings realized by the utility from the installation and use of smart meters and smart meter technology. The bill prohibits a utility from recovering lost or decreased revenues from customers due to reduced electricity usage or shifting electricity demand.

AI Summary

Committee Categories

Paul Kanitra (R)*,  Greg McGuckin (R)*, 

Introduced, Referred to Assembly Telecommunications and Utilities Committee (on 01/09/2024)

Official Document