New Jersey A3422 establishes limits on electric public utility rate increases for low- and middle-income households.

New Jersey A3422 sets caps on electric public utility rate increases for low- and middle-income households. The bill defines "eligible households" as those with annual incomes at or below 400% of the federal poverty level. Electric public utilities are prohibited from raising rates for these households by more than the all-items index for the previous calendar year. Utilities that fail to comply face fines and other penalties determined by the Board of Public Utilities.

New Jersey A3422 establishes limits on electric public utility rate increases for low- and middle-income households.

New Jersey A3422 sets caps on electric public utility rate increases for low- and middle-income households. The bill defines "eligible households" as those with annual incomes at or below 400% of the federal poverty level. Electric public utilities are prohibited from raising rates for these households by more than the all-items index for the previous calendar year. Utilities that fail to comply face fines and other penalties determined by the Board of Public Utilities.