NJ A6123

Allows gas and electric utilities to petition the Board of Public Utilities for approval of alternative ratemaking plans, which may include performance-based rates, formula rates, multi-year rate plans (minimum 36 months), earnings-sharing mechanisms, and decoupling mechanisms

Permits utilities to use "fully-projected future test years" (12-month periods beginning no later than 12 months after filing) to determine rate bases, revenues, and expenses in base rate cases

Requires the Board of Public Utilities to adopt implementing rules and regulations within 180 days of enactment, including evaluation criteria for alternative ratemaking plans

Board must approve, approve with modifications, or deny utility petitions for alternative ratemaking plans within 9 months of filing, after holding a public hearing with opportunity for public comment

Utilities may reject board-modified alternative ratemaking plans within 30 days of the order; if rejected, the plan is withdrawn and prior rates remain in effect