NJ S1818

Electric public utilities must annually review revenues against Board of Public Utilities-approved total revenue requirements and redistribute excess profits exceeding 0.5% above the approved amount to customers.

Excess profit redistribution follows a tiered structure: 50% refunded for profits up to 1% above requirement, 75% refunded for profits between 1-2% above, and 100% refunded for profits exceeding 2% above the total revenue requirement.

Half of required refunds go to all customers as bill credits or direct payments for unpaid balances, while the other half goes specifically to customers enrolled in utility assistance programs.

Utilities must file annual financial reports with the Board and have 45 days to comply with redistribution orders; failure to comply or knowingly misrepresenting information results in fines up to 5% of total revenue requirement or 105% of excess profits.

All fines collected are directed to supplement utility assistance programs, and neither redistributed profits nor penalties may be recovered from customers through future rates.