Sponsored by:
Assemblyman ALEX SAUICKIE
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Prohibits public utilities from recovering cost of legal penalties.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning rate recovery of certain costs and supplementing Title 48 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. As used in this section:
“Affiliate” means any individual or entity that directly or indirectly controls, is under common control with, or is controlled by a public utility.
“Legal penalties” means any payment made by a public utility for legal wrongdoing or otherwise improper action committed by the public utility or its affiliate.
“Public utility” means the same as that term is defined pursuant to R.S.48:2-13.
b. Notwithstanding any law, rule, order, or regulation to the contrary, the Board of Public Utilities shall not approve a public utility’s request to recover the cost of legal penalties through the public utility rates charged to ratepayers after the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill).
2. This act shall take effect immediately.
STATEMENT
This bill prohibits the Board of Public Utilities from approving a public utility’s request to recover the cost of legal penalties through the public utility rates charged to ratepayers after the bill’s effective date. The bill defines “legal penalties” to mean any payment made by a public utility for legal wrongdoing or otherwise improper action committed by the public utility or its affiliate.