Requires BPU to adjust societal benefits charge if excess funds are collected and provides that excess funds may only be spent on measures to reduce.

The bill mandates that the Board of Public Utilities (BPU) adjust the societal benefits charge if excess funds are collected. It specifies that any excess funds must be used exclusively for measures aimed at reducing electric and natural gas usage by ratepayers. The BPU is required to either lower the charge for the subsequent energy year or allocate the excess funds to initiatives that promote energy conservation. This legislation responds to concerns about the misuse of funds intended for social programs, emphasizing the need for sustainable solutions to energy consumption issues.

Requires BPU to adjust societal benefits charge if excess funds are collected and provides that excess funds may only be spent on measures to reduce.

The bill mandates that the Board of Public Utilities (BPU) adjust the societal benefits charge if excess funds are collected. It specifies that any excess funds must be used exclusively for measures aimed at reducing electric and natural gas usage by ratepayers. The BPU is required to either lower the charge for the subsequent energy year or allocate the excess funds to initiatives that promote energy conservation. This legislation responds to concerns about the misuse of funds intended for social programs, emphasizing the need for sustainable solutions to energy consumption issues.