New Jersey S724 limits electric public utility rate increases for low- and middle-income households.

New Jersey S724 establishes limits for electric public utility rate increases for low- and middle-income households. The bill prohibits an electric public utility from increasing its rates for eligible households by more than the all-items index for the previous calendar year. The Board of Public Utilities is required to fine and penalize non-compliant utilities. The bill also mandates annual reporting by utilities and a summary report by the board to the Legislature.

New Jersey S724 limits electric public utility rate increases for low- and middle-income households.

New Jersey S724 establishes limits for electric public utility rate increases for low- and middle-income households. The bill prohibits an electric public utility from increasing its rates for eligible households by more than the all-items index for the previous calendar year. The Board of Public Utilities is required to fine and penalize non-compliant utilities. The bill also mandates annual reporting by utilities and a summary report by the board to the Legislature.