Sponsored by:
Assemblywoman SHANIQUE SPEIGHT
District 29 (Essex and Hudson)
SYNOPSIS
Prohibits BPU approval of electric or gas public utility rate increases resulting in total increase to average residential customer bill in excess of two percent within five-year period.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning electric and gas public utility rates and supplementing Title 48 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. The Board of Public Utilities shall not approve electric or gas public utility rate increases that are projected to result in a total increase to an average residential customer bill in excess of two percent during any five-year period.
2. This act shall take effect immediately.
STATEMENT
This bill prohibits the Board of Public Utilities from approving electric or gas public utility rate increases that are projected to result in a total increase to an average residential customer bill in excess of two percent during any five-year period.