Modifies rate-regulation over municipal electric utilities in New Jersey.

The bill modifies the rate-regulation over municipal electric utilities in New Jersey. It limits the jurisdiction of the Board of Public Utilities (BPU) to municipal electric utilities that service more than 10,000 billed customers outside of the supplying municipality. Additionally, municipal electric utilities would not be subject to BPU rate regulation if they charge the same rates to customers inside and outside of the municipality. The bill also includes provisions for municipalities to pay an assessment to the BPU and to establish a surplus for contingencies.

Modifies rate-regulation over municipal electric utilities in New Jersey.

The bill modifies the rate-regulation over municipal electric utilities in New Jersey. It limits the jurisdiction of the Board of Public Utilities (BPU) to municipal electric utilities that service more than 10,000 billed customers outside of the supplying municipality. Additionally, municipal electric utilities would not be subject to BPU rate regulation if they charge the same rates to customers inside and outside of the municipality. The bill also includes provisions for municipalities to pay an assessment to the BPU and to establish a surplus for contingencies.