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Bill > S2722

NJ S2722

NJ S2722
Prohibits public utility from filing rate increase petition under certain circumstances.

summary

Introduced
02/15/2024
In Committee
02/15/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 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 is to continue until such time as the board determines that the base rate case proceeding or the investigation has been concluded.

AI Summary

This bill prohibits the Board of Public Utilities (the 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" (a proceeding to determine whether the public utility has exceeded its authorized rate of return) or 2) the public utility has been notified by the board that it is investigating whether the public utility has exceeded its authorized rate of return. This prohibition continues until the board determines that the base rate case proceeding or the investigation has been concluded.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 02/15/2024)
(2 Companion Bills)

bill text

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bill summary

Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2024/S2722
BillText https://pub.njleg.gov/Bills/2024/S3000/2722_I1.HTM
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