Prohibits electric generation service and gas supply service rates from exceeding basic generation service and basic gas supply service rates.

This bill prohibits electric power suppliers and gas suppliers from charging residential customers more for standard electricity or gas service than the established "basic service" rates. It directly affects residential utility customers in New Jersey by capping their monthly charges for electricity and gas supply at the existing basic service price points. The key provision requires suppliers to maintain rates at or below the baseline rates set under existing law (P.L.1999, c.23), preventing increases that would exceed these levels. This policy change aims to limit rate hikes for households without altering the underlying basic service rates themselves. The bill applies specifically to residential customers, not businesses or industrial users.