Bill Text: NJ A5202 | 2024-2025 | Regular Session | Introduced
Bill Title: Prohibits electric public utilities from imposing reconciliation charge on customers.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced) 2025-01-16 - Introduced, Referred to Assembly Telecommunications and Utilities Committee [A5202 Detail]
Download: New_Jersey-2024-A5202-Introduced.html
Sponsored by:
Assemblyman ALEX SAUICKIE
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Prohibits electric public utilities from imposing reconciliation charge on customers.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning reconciliation charges 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:
"Electric public utility" or "utility" means a public utility, as that term is defined in R.S.48:2-13, that transmits and distributes electricity to end users within the State.
"Reconciliation charge" means a positive dollar amount charged to utility customers by an electric public utility to help the utility recover the difference between estimated and actual costs to provide electricity service to utility customers, which costs are eligible for rate recovery and shall include, but not be limited to: basic generation service costs and associated administrative costs; fees; credits; taxes; and interest.
b. Notwithstanding any other law, rule, regulation, or order to the contrary, an electric public utility shall not impose a reconciliation charge on its customers.
2. This act shall take effect immediately.
STATEMENT
This bill prohibits an electric public utility (utility) from imposing a reconciliation charge on its customers. Under the bill, a "reconciliation charge" means a positive dollar amount charged to utility customers by an electric public utility to help the utility recover the difference between estimated and actual costs to provide electricity service to utility customers, which costs are eligible for rate recovery and include, but are not limited to: basic generation service costs and associated administrative costs; fees; credits; taxes; and interest.
It is the sponsor's intent to encourage utilities to engage in long-term financial planning and become less dependent on ratepayers to help utilities recover financial losses due to the utilities' own business decisions.
