This bill mandates that electric and gas public utilities in New Jersey implement or maintain warranty programs that cover the full cost of repairing or replacing specified appliances, which include items such as furnaces, water heaters, HVAC systems, and more. The bill defines key terms such as "covered appliance" and "public utility warranty program," and it stipulates that all contracts for these programs must provide comprehensive coverage for the appliances listed.

Additionally, the bill requires utilities to inform their customers about the warranty programs through a bill insert every billing cycle for one year after the program's implementation. This notice must clearly explain the program's elements and the rights of customers, as well as how existing customers can transition to the new program. Importantly, the bill prohibits utilities from recovering the costs of implementing these warranty programs through customer rates. The act is set to take effect three months after its enactment and will apply to all contracts entered into thereafter.