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NJ S3845
Bill
Status
10/28/2024
Primary Sponsor
Brian Stack
Click for details
AI Summary
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Requires the Board of Public Utilities (BPU) to consider affordability to ratepayers as a factor when determining whether proposed electric utility rate increases are "just and reasonable"
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Applies to base rate cases filed by electric public utilities seeking to increase, change, or alter existing rates, tolls, charges, or schedules
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Currently, BPU primarily considers utility property valuation (rate base), utility expenses, and rate of return when evaluating rate increase petitions
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Takes effect immediately upon enactment and applies to all petitions submitted to the BPU on or after the effective date
Legislative Description
Requires BPU to consider affordability to ratepayers before approving base rate cases for electric public utilities.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
10/28/2024