This bill mandates that the Board of Public Utilities (BPU) provide a plain language summary alongside its final decisions on public utility rate increase petitions. The summary must include several key elements: a summary of the utility's petition, justification for the BPU's decision, the impact on affected customers, current and new rates along with the total increase, the utility's rate of return, an expected recovery period for infrastructure costs if applicable, the effective date of the new rates, and any additional information deemed necessary by the board.
The intent of this legislation is to enhance transparency and consumer understanding regarding utility rate changes, particularly during periods of rising rates. By requiring a more accessible format for the information contained in board orders, the bill aims to empower consumers with knowledge about how decisions made by the BPU affect their utility costs.