New Jersey S4052 allows gas and electric utilities to use alternative ratemaking mechanisms.
New Jersey S4052, known as the "Public Utility Rate Stabilization Act," allows gas and electric public utilities to use alternative ratemaking mechanisms. These mechanisms include performance-based rates, formula rates, multi-year rate plans, earnings-sharing mechanisms, and decoupling mechanisms. Utilities must petition the New Jersey Board of Public Utilities for approval of an alternative ratemaking plan before employing these mechanisms. The board must adopt rules and regulations within 180 days of the bill's enactment to effectuate the provisions.
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