NJ S4052

Permits New Jersey gas and electric utilities to petition the Board of Public Utilities for alternative ratemaking plans using mechanisms such as performance-based rates, formula rates, multi-year rate plans (minimum 36 months), earnings-sharing mechanisms, and decoupling mechanisms.

Requires the Board of Public Utilities to adopt implementing rules and regulations within 180 days of enactment and to approve, modify, or deny utility petitions within nine months of filing.

Allows utilities to use fully-projected future test years (12-month periods beginning no later than 12 months after filing) to determine rate bases, revenues, and expenses instead of historical data.

Mandates public hearings and comment opportunities before the Board approves any alternative ratemaking plan, with evaluation criteria including just and reasonable rates, grid reliability, and alignment with state policy goals.

Gives utilities 30 days to accept or reject any Board-modified alternative ratemaking plan; rejection returns rates to their pre-petition levels.