Bill > A2920

Introduced Session

This bill would provide that, if the amount of the societal benefits charge (SBC) is in excess of the amount needed to recover the costs of the activities enumerated in section 12 of the "Energy Discount and Energy Competition Act," P.L.1999, c.23 (C.48:3-60) during an energy year, the Board of Public Utilities (BPU) would be required to either: (1) adjust downward the authorized amount of the charge to be collected during the subsequent energy year accordingly; or (2) expend, or authorize a utility to expend, as applicable, the excess funds only for the purposes of carrying out measures which will reduce electric or natural gas usage by ratepayers. The sponsor is introducing the legislation in response to the testimony given by the President of the BPU at a recent Legislative hearing on the causes of the electric bill increases during the summer of 2024. In that hearing, the BPU president stated that the BPU had diverted excess SBC funds to provide a one-time check of $175 to over 278,000 low-income homeowners or renters, a total expenditure of more than $48.6 million. While this measure was carried out under the guise of helping low-income ratepayers, it really only served to assist the utilities and their shareholders. The one-time check did nothing to solve the underlying problem of finding ways to reduce the usage of power during periods of either high heat or extreme cold. Without such solutions, the events of the summer of 2024 are going to be repeated. This legislation would force the BPU to seriously work with low-income residents on real solutions to their energy usage instead of promoting stop-gap, feel-good measures that squander the public's hard earned money with nothing to show for the investment in the end.

AI Summary

Committee Categories

Alex Sauickie (R)*, 

Introduced, Referred to Assembly Telecommunications and Utilities Committee (on 01/13/2026)

Official Document