Bill
Bill > S4482
NJ S4482
NJ S4482Prohibits electric generation service and gas supply service rates from exceeding basic generation service and basic gas supply service rates.
summary
Introduced
05/19/2025
05/19/2025
In Committee
05/19/2025
05/19/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill requires electric power suppliers and gas suppliers to charge residential customers no more than the price of basic generation service or basic gas supply service. The Board of Public Utilities (board) approved an increase in electricity rates, which will become effective in June 2025. According to the board, this increase will raise electricity bills by approximately 17 to 20 percent, depending on a ratepayer's electric public utility. Electricity and gas are not luxuries; they are essential services powering homes, schools, medical devices, and transportation. As the cost of living continues to rise and many wages stagnate, New Jersey residents need protection from utility rate increases, which exacerbate the effects of inflation on consumers. This bill aims to safeguard ratepayers by implementing regulatory measures that promote fairness and transparency in pricing. It is the sponsor's intent to prevent excessive rate hikes and unfair or deceptive practices by electric power suppliers and gas suppliers by capping rates charged to residential consumers at the price of basic generation service. This measure is intended to address economic hardships and promote fair electric generation service and gas supply service pricing. New Jersey families, individuals, and businesses deserve reliable, affordable energy without facing undue financial strain.
AI Summary
This bill prohibits electric power suppliers and gas suppliers from charging residential customers rates higher than the basic generation service or basic gas supply service rates as established in previous New Jersey legislation. Specifically, the bill mandates that these utility providers can only charge residential customers a price equal to or lower than the standard basic service rates, which are defined in earlier statutory provisions (sections 9 and 10 of P.L.1999, c.23). This legislation aims to protect consumers from potentially excessive utility rate increases, particularly in light of an anticipated electricity rate hike of approximately 17 to 20 percent planned for June 2025 by the Board of Public Utilities. The bill is designed to address economic hardships faced by New Jersey residents by preventing utility companies from charging higher rates for electricity and gas, which are considered essential services. The legislation will take effect on the first day of the third month following its enactment, providing a clear timeline for implementation and giving utility providers and consumers advance notice of the new pricing restrictions.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee (on 05/19/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S4482 | 05/12/2025 |
| BillText | https://pub.njleg.gov/Bills/2024/S4500/4482_I1.HTM | 05/20/2025 |
Loading...