NJ S454

Requires the New Jersey Board of Public Utilities (BPU) to consider affordability to ratepayers as a factor when determining whether electric utility rate increases are "just and reasonable"

Applies to base rate case petitions submitted under existing rate-setting statutes (R.S.48:2-21, R.S.48:2-21.1, and C.48:2-21.2)

Currently, BPU primarily considers property valuation (rate base), utility expenses, and rate of return when evaluating rate increase requests; this bill adds affordability as an additional required consideration

Takes effect immediately upon enactment and applies to petitions submitted on or after the enactment date

Sponsored by Senators Brian P. Stack and Angela V. McKnight, representing Hudson County districts