Prohibits BPU approval of electric and gas public utility rate increases resulting in total increase to average residential customer bill in excess of two percent annually.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill limits the increases that New Jersey’s Board of Public Utilities (BPU) can approve for electric and gas utility rates. Specifically, it prevents the BPU from allowing rate increases that would cause the average residential customer’s bill to rise by more than two percent in a single year. The goal is to protect consumers from excessive utility costs. The bill takes effect immediately.
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