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

This bill requires New Jersey's electric and gas utilities to reset their rates to levels from 2020 for a five-year period. Utilities must submit rate filings reflecting 2020 rates to the Board of Public Utilities (BPU), which must approve them within 30 days. The approved rates would then remain in effect until 2029, directly affecting all residential and business customers of these utilities. The policy change prevents new rate increases above 2020 levels during this period.