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, referred to as "covered appliances." These appliances include, but are not limited to, furnaces, water heaters, HVAC systems, refrigerators, stoves, dishwashers, washing machines, dryers, grills, gas fireplaces, and space heaters. The bill stipulates that all contracts for these warranty programs must provide comprehensive coverage for the costs associated with the repair or replacement of the covered appliances.

Additionally, the bill requires utilities to inform their customers about the warranty program through a bill insert every billing cycle for one year after the program's implementation. This notice must clearly explain the program's elements, customers' rights, and the differences between the new program and any existing contracts. Importantly, the bill prohibits utilities from recovering the costs of implementing these warranty programs through customer rates, ensuring that the financial burden does not fall on consumers. The act is set to take effect three months after its enactment and will apply to all contracts entered into thereafter.