NJ A5438

Requires electric and gas public utilities to conduct annual reviews comparing actual revenues collected against the Board of Public Utilities-approved total revenue requirement, with reports due within five months after each reporting period

Mandates redistribution of excess profits to customers within 45 days of a board order through bill credits, direct payments to customers with unpaid balances, or payments to customers enrolled in utility assistance programs

Imposes fines on utilities that fail to redistribute excess profits or knowingly misrepresent financial information, with penalties capped at the lesser of 5% of total revenue requirement or 105% of excess profits

Directs all penalty monies collected to supplement existing utility assistance programs administered by the Board of Public Utilities

Prohibits utilities from recovering redistributed excess profits or any imposed penalties from ratepayers