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.
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