"Stop Misappropriating Ratepayer Tariffs for Excessive Resources Act"; prohibits rate of recovery of costs associated with smart grid projects.

This bill, known as the "Stop Misappropriating Ratepayer Tariffs for Excessive Resources Act," prevents electric utilities in New Jersey from passing the costs of smart grid projects onto their customers. Specifically, it bans utilities from including capital and operating expenses for these smart grid systems in the rates charged to ratepayers, such as the societal benefits charge. The law applies to all public utilities that transmit and distribute electricity within the state and takes effect immediately upon enactment. By removing this cost recovery mechanism, the bill ensures that ratepayers will not pay for the deployment of smart grid technology through their utility bills.