"Energy Cost Fairness Act"; prohibits BPU from authorizing rate increases for electric and gas public utilities that charge inclining block rates for residential customers.

The "Energy Cost Fairness Act" (A4012) prohibits New Jersey's Board of Public Utilities (BPU) from approving rate increases for electric or gas utilities that use inclining block rates for residential customers. Inclining block rates charge higher prices per unit once a household's usage exceeds specific thresholds, regardless of when energy is used. The bill directly affects residential customers who currently face these tiered pricing structures and requires utilities to eliminate this rate design to qualify for any rate increase. It implements this change by banning BPU authorization of such rate hikes, aiming to align pricing with actual costs.