Bill > A5706

Introduced Session

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

Committee Categories

Garnet Hall (D)*,  Verlina Reynolds-Jackson (D)*,  Shanique Speight (D)*, 

Introduced, Referred to Assembly Telecommunications and Utilities Committee (on 05/22/2025)

Official Document