Resets electric and gas public utility rates to 2020 levels for five-year period.

This bill requires New Jersey's electric and gas utilities to reset their rates to the lowest level they charged during 2020 for a five-year period. Utilities must file new rate schedules with the Board of Public Utilities (BPU) reflecting these 2020 rates, and the BPU must approve them within 30 days. The policy directly affects all residential and commercial customers of these utilities by preventing rate increases above 2020 levels for five years. It aims to stabilize costs for essential energy services without specifying future rate adjustments beyond the 2020 baseline.