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NJ S4481
Bill
Status
5/19/2025
Primary Sponsor
Britnee Timberlake
Click for details
AI Summary
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Requires all electric and gas public utilities operating in New Jersey to file updated rate schedules with the Board of Public Utilities reflecting rates equal to or less than their 2020 calendar year rates
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Mandates the Board of Public Utilities approve the updated rate schedules within 30 days of receipt
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Freezes the approved 2020-level rates for a five-year period once approved by the Board
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Responds to a Board-approved electricity rate increase effective June 2025 that would raise bills by approximately 17-20% depending on the utility provider
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Takes effect on the first day of the fourth month following enactment
Legislative Description
Resets electric and gas public utility rates to 2020 levels for five-year period.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
5/19/2025