New Jersey A4716 prohibits the Board of Public Utilities from approving electric or gas rate increases exceeding 2% over five years for residential.
New Jersey A4716 prohibits the Board of Public Utilities from approving electric or gas public utility rate increases that would result in a total increase to an average residential customer bill exceeding two percent within any five-year period. This act aims to limit the rate of increase for residential customers, ensuring their bills do not rise too steeply over time. The legislation takes effect immediately upon enactment.
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