Requires BPU to establish best practices and to assess electric public utilities' compliance with BPU best practices during BPU's review of rate increase.

This bill requires New Jersey's Board of Public Utilities to create and enforce best practice standards for electric public utilities, covering areas like generation, transmission, maintenance, and affordability. When reviewing requests for rate increases, the board must assess whether utilities are meeting these standards and compare their performance to other utilities in the state. If a utility fails to show adequate progress toward meeting these benchmarks, the board cannot approve its rate increase request and must provide the utility with specific steps to improve compliance. The board will also regularly update these standards and publish them online for public access.