Prohibits electric generation service and gas supply service rates from exceeding basic generation service and basic gas supply service rates.

S 2714 requires New Jersey electric power suppliers and gas suppliers to charge residential customers rates equal to or lower than the established "basic generation service" or "basic gas supply service" rates under existing law (P.L.1999, c.23). This bill directly affects residential utility customers by capping their electricity and gas supply charges at the current basic service rate level. The key mechanism prohibits suppliers from charging more than these baseline rates for residential service, regardless of market conditions. The bill does not alter the basic service rates themselves but prevents rate increases above them for residential customers. It is currently pending in the Senate Economic Growth Committee.