NJ S2712

New Jersey Division of Rate Counsel must hire an independent third party to study the feasibility and cost savings of converting private electric and gas utilities to public ownership or joint public-private operation.

The study must analyze short- and long-term challenges, benefits, environmental impacts, service quality effects, costs to ratepayers, and potential revenue from clean energy programs.

Electric and gas utilities and public entities are required to cooperate fully and provide requested information to the third-party researcher conducting the study.

The Division must submit a report with findings and recommendations for legislative and executive action to the Governor and Legislature within one year of the bill's effective date.

$100,000 is appropriated from the General Fund to the Division of Rate Counsel to conduct the study, and the bill expires upon submission of the final report.