NJ A4520

Prohibits electric public utilities in New Jersey from imposing reconciliation charges on customers, effective immediately upon enactment.

Defines "reconciliation charge" as a positive dollar amount charged to customers to help utilities recover the difference between estimated and actual costs for providing electricity service.

Covered costs eligible for rate recovery include basic generation service costs, associated administrative costs, fees, credits, taxes, and interest.

Applies to all public utilities that transmit and distribute electricity to end users within New Jersey.

Aims to encourage utilities to engage in better long-term financial planning rather than passing cost miscalculations on to ratepayers.