Requires BPU to adjust societal benefits charge if excess funds are collected and provides that excess funds may only be spent on measures to reduce electric and natural gas usage.

This bill requires New Jersey's Board of Public Utilities (BPU) to adjust the societal benefits charge if excess funds are collected from utility customers. It mandates that any excess funds can only be spent on programs designed to reduce electricity and natural gas usage. The law directly affects electric and gas public utilities and their customers, as the societal benefits charge is collected through customer bills. Key provisions ensure excess funds cannot be diverted to other purposes and must support energy reduction initiatives, aligning with existing demand-side management and renewable energy programs.