"Public Utility Fair Profit Act"; requires public utilities to take certain actions regarding excess profits and directs fines for violations to fund utility assistance programs.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, the "Public Utility Fair Profit Act," requires New Jersey’s public utilities (electric and gas) to review their revenues and determine if they’ve earned excess profits. If excess profits are found, the utilities must redistribute them to customers through refunds, bill credits, or direct payments to eligible assistance program participants. Fines for non-compliance will be used to bolster utility assistance programs.
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