This bill establishes a residential universal bill credit for customers of electric and gas public utilities in New Jersey, funded by uncommitted funds from the societal benefits charge, which is set to be eliminated. The New Jersey Board of Public Utilities (BPU) is required to stop collecting this charge within 30 days of the bill's effective date and provide a one-time direct utility bill assistance payment to all residential customers. Additionally, the bill prohibits the BPU from using incentive accounting mechanisms related to lost revenue conservation programs, effectively ending funding for such programs through the societal benefits charge. It also mandates that any programs previously funded by this charge will now be financed through annual appropriations.

Moreover, the bill introduces several amendments to existing laws regarding energy efficiency and renewable energy initiatives. It establishes a registration program for solar electric power generation facilities and outlines the responsibilities of electric and gas public utilities in recovering costs related to social programs. Key changes include the removal of certain provisions regarding the funding and administration of the Universal Service Fund and the elimination of charges related to uncollectible bills. The bill also creates new funding mechanisms for electric vehicle charging depots and mandates the BPU to approve multiple projects at designated locations, ensuring that funds are used appropriately for their intended purposes while promoting renewable energy and consumer protection.

Statutes affected:
Introduced: 26:2C-8.58, 48:2-21.26, 48:3-51, 48:3-60, 48:3-77, 48:3-86.3, 48:3-87.9, 48:3-91, 48:3-98.1, 48:3-121.6, 48:25-7, 48:25-14