Bill > A5464

This bill requires the New Jersey Board of Public Utilities (BPU) to conduct a comprehensive, full rate review before approving any rate increase requested by an electric public utility. Specifically, the bill prohibits the BPU from allowing electric utilities to raise any component of their rates for customers without first performing a thorough examination of the utility's financial and operational details. The bill defines an "electric public utility" as a utility that transmits and distributes electricity to end users within the state, which would likely include major electricity providers like Jersey Central Power & Light or Public Service Electric and Gas. By mandating a full rate review, the bill aims to provide greater scrutiny and consumer protection, ensuring that rate increases are justified and not arbitrarily imposed on ratepayers. The legislation would take effect immediately upon enactment, meaning the BPU would be required to implement this new review requirement for any pending or future rate increase requests.

Budget and Finance, Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2024/A5464