Establishes limits for electric public utility rate increases for low- and middle-income households.

This bill limits electricity rate increases for low- and middle-income residential households in New Jersey. Specifically, electric utilities cannot raise rates for these households by more than the annual inflation rate (based on the U.S. Bureau of Labor Statistics' Consumer Price Index). Eligible households are defined as those with annual incomes up to 400% of the federal poverty level (200% for "low-income" households). Utilities must report program participation and financial impacts to the Board of Public Utilities annually, and non-compliance may result in fines.