Bill > S4150

Introduced Session

This bill establishes limits for electric public utility rate increases for eligible households. Specifically, under the bill, an electric public utility is prohibited from increasing its rates for low- and middle-income households that are also residential households by more than the all-items index for the previous calendar year. The bill provides that an electric public utility that fails to comply with this prohibition is to be fined an amount and subject to any other penalties to be determined by the board. Finally, the bill requires an electric public utility to report the following information to the board: (1) the number of eligible households that benefit from the program; (2) the financial impact of the program on the electric public utility; and (3) recommendations for adjustments to the program. The board is then required, on an annual basis, to issue a report to the Legislature that summarizes the information it receives from an electric public utility under the bill. Under the bill, "all-items index" means the rate of inflation for all items, as determined by the United States Bureau of Labor Statistics in its Consumer Price Index reports; "low-income household" means a household with a total, annual household income that is equal to or less than 200 percent of the federal poverty level, as that level is updated annually by the United States Department of Health and Human Services; and "middle-income household" means a household with a total, annual household income that is equal to or less than 400 percent of the federal poverty level, as that level is updated annually by the United States Department of Health and Human Services.

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John Burzichelli (D)*,  Paul Moriarty (D)*,  Angela Mcknight (D), 

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 02/25/2025)

Official Document