Requires BPU to determine and consider lowest reasonable return on equity before approving electric, gas, and water public utility base rate cases.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires the New Jersey Board of Public Utilities (BPU) to consider the lowest reasonable return on equity (ROE) when evaluating electric, gas, and water public utility base rate cases. The BPU must determine and factor in this ROE to decide if a proposed rate increase is just and reasonable. To do this, the BPU is directed to use analytic models aligned with state, federal, and industry standards for determining a fair ROE for these utilities. This legislation aims to ensure that utilities are not collecting excessive returns on their investments.
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