NJ S4260

Electric public utilities must perform annual reviews comparing actual revenues collected against board-approved total revenue requirements, with reports filed within five months of each reporting period

Utilities earning more than 0.5% above their approved revenue requirement must refund excess profits using a tiered system: 50% refund for earnings up to 1% over, 75% refund for 1-2% over, and 100% refund for earnings exceeding 2% over the requirement

Refunds must be split evenly between bill credits/payments for customers with unpaid balances and payments for customers enrolled in utility assistance programs

Utilities failing to redistribute excess profits within 45 days or misrepresenting financial information face fines up to the lesser of 5% of total revenue requirement or 105% of excess profits, with penalties funding utility assistance programs

The Board of Public Utilities must approve compliance with excess profit redistribution requirements before authorizing any future rate increases for electric utilities