STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Senator LATHAM TIVER
District 8 (Atlantic and Burlington)
SYNOPSIS
Requires public utilities to mail customers detailed explanation of rate settlement agreements prior to final BPU vote.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning public utility rate settlement agreements, 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. A public utility shall, upon arriving at a rate settlement agreement, the approval of which would increase individual rates, tolls, charges, or schedules of a public utility, notify customers in the service area affected by the settlement by direct mail prior to the final settlement decision before the Board of Public Utilities. The notification shall provide an explanation of the proposed settlement, including a detailed justification of the basis for the proposed settlement.
b. For the purposes of this section, "public utility" means a public utility as defined in R.S.48:2-13, providing gas, electric, water, or sewer service.
2. This act shall take effect immediately.
STATEMENT
This bill requires a public utility to, upon arriving at a rate settlement agreement, the approval of which would increase individual rates, tolls, charges, or schedules of a public utility, notify customers in the service area affected by the settlement by direct mail prior to the final settlement decision before the Board of Public Utilities. The notification shall provide an explanation of the proposed settlement, including a detailed justification of the basis for the proposed settlement.