A 3608
"Public Utility Rate Stabilization Act"; permits gas and electric public utilities to employ alternative ratemaking mechanisms.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill, the Public Utility Rate Stabilization Act, allows gas and electric public utilities in New Jersey to use alternative ratemaking mechanisms, such as performance-based rates and formula rates, instead of traditional methods. It requires utilities to petition the Board of Public Utilities for approval of these plans and mandates the board to create specific rules and regulations to govern their implementation. The bill also permits the use of ‘fully-projected future test years’ in rate case filings.
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