Resets electric and gas public utility rates to 2020 levels for five-year period.

This bill requires electric and gas public utilities in New Jersey to set their rates at or below the levels charged in 2020 for a five-year period. It mandates that utilities file updated rate schedules with the Board of Public Utilities, which must approve them within 30 days. The rate caps apply to all residential, commercial, and industrial customers who receive utility services in the state. This measure is designed to limit utility price increases and maintain affordability for ratepayers during the specified timeframe.