New Jersey A4012 prohibits the Board of Public Utilities from authorizing rate increases for electric and gas utilities using inclining block rates.

New Jersey A4012, known as the "Energy Cost Fairness Act," prohibits the Board of Public Utilities from authorizing rate increases for electric and gas public utilities that charge inclining block rates for residential customers. An inclining block rate is a structure that imposes higher rates once usage exceeds certain thresholds. The bill aims to address the issue that these rates are not cost-reflective and do not accurately represent the actual cost of generating power. The Board of Public Utilities will adopt necessary rules and regulations to implement this provision.

New Jersey A4012 prohibits the Board of Public Utilities from authorizing rate increases for electric and gas utilities using inclining block rates.

New Jersey A4012, known as the "Energy Cost Fairness Act," prohibits the Board of Public Utilities from authorizing rate increases for electric and gas public utilities that charge inclining block rates for residential customers. An inclining block rate is a structure that imposes higher rates once usage exceeds certain thresholds. The bill aims to address the issue that these rates are not cost-reflective and do not accurately represent the actual cost of generating power. The Board of Public Utilities will adopt necessary rules and regulations to implement this provision.