NJ S4150

Electric public utilities in New Jersey would be prohibited from increasing rates for low-income households (≤200% of federal poverty level) and middle-income households (≤400% of federal poverty level) by more than the previous calendar year's Consumer Price Index all-items inflation rate

Utilities that violate the rate increase cap would face fines and other penalties to be determined by the Board of Public Utilities

Electric utilities must submit annual reports to the Board of Public Utilities detailing the number of eligible households benefiting from the program, financial impact on the utility, and recommendations for program adjustments

The Board of Public Utilities must submit annual summary reports to the Legislature based on utility-provided information

The bill takes effect immediately upon enactment and applies only to residential households meeting the income eligibility requirements