"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 requires electric and gas utilities in New Jersey to annually review if they collected more revenue than approved by the state's Board of Public Utilities ("excess profits"). If excess profits exist, utilities must redistribute them to customers through bill credits, direct payments for unpaid balances, or payments to customers in utility assistance programs - within 45 days of a board order. Utilities failing to comply face fines (up to 5% of their approved revenue or 105% of excess profits), with all penalty funds directed to state utility assistance programs. The law applies only to residential utility services and takes effect after implementing rules are adopted.