Authorizes Rate Counsel to deny certain public utility rate increases.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill gives the Division of Rate Counsel in New Jersey the authority to deny certain public utility rate increases. Specifically, the Rate Counsel can block a rate increase if the ‘all-items index’ – a measure of inflation – has risen by more than two percent in any of the four quarters leading up to the utility’s filing of the rate increase request. This aims to prevent rate hikes that are disproportionate to the overall cost of living.
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