New Jersey A2637 revises public utility franchise process, allows political subdivisions to revoke franchises, and increases penalties.

New Jersey A2637 updates the public utility franchise process, allowing political subdivisions to revoke franchises and increasing penalties. The bill mandates that new franchises granted by political subdivisions to public utilities be for a term no longer than seven years. The Board of Public Utilities (BPU) must deny approval of a franchise if the utility cannot provide safe, adequate, and proper service at just and reasonable rates. The BPU can require utilities to maintain their property and equipment in good working order.

New Jersey A2637 revises public utility franchise process, allows political subdivisions to revoke franchises, and increases penalties.

New Jersey A2637 updates the public utility franchise process, allowing political subdivisions to revoke franchises and increasing penalties. The bill mandates that new franchises granted by political subdivisions to public utilities be for a term no longer than seven years. The Board of Public Utilities (BPU) must deny approval of a franchise if the utility cannot provide safe, adequate, and proper service at just and reasonable rates. The BPU can require utilities to maintain their property and equipment in good working order.