"Public Utility Fair Profit Act"; requires public utilities to take certain actions regarding excess profits and directs fines for violations to fund utility assistance programs.

This bill (A5438, "Public Utility Fair Profit Act") requires New Jersey electric, gas, and water utilities to annually review their actual revenues against the revenue amount approved by the Board of Public Utilities (BPU). If a utility collects "excess profits" (revenue exceeding the approved amount), it must redistribute those profits to customers within 45 days through bill credits, direct payments to customers with unpaid bills, or payments to those in utility assistance programs. Utilities failing to comply face fines (up to 5% of approved revenue or 105% of excess profits), with all fines directed to fund existing utility assistance programs. The bill aims to ensure excess profits benefit customers directly rather than utility shareholders.