"Public Utility Rate Stabilization Act"; permits gas and electric public utilities to employ alternative ratemaking mechanisms.
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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, the Public Utility Rate Stabilization Act, allows gas and electric public utilities in New Jersey to use alternative ratemaking methods instead of traditional approaches. It establishes mechanisms like performance-based rates and formula rates, requiring utilities to petition the Board of Public Utilities for approval of these plans. The bill also mandates the Board to create specific rules and regulations to govern these alternative ratemaking processes, ensuring they meet certain criteria and are subject to public review.
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