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The legislation is projected to save $800 million over the next three years, with households expected to see up to $200 in annual savings, depending on usage and service territory. One of the key provisions shifts $250 million in unpaid hardship fees off electric bills and into state-backed bonding, easing short-term pressure on working families.
It also includes long-overdue structural reforms:
- Caps the cost of low-income and EV incentive programs to avoid unchecked rate hikes
- Requires a full audit of public benefit charges — those hidden line items ratepayers never voted on
- Gives utilities the tools to make smarter, market-based energy purchases to lower costs over time
This comes as PURA recently approved a small decrease in residential supply rates and the state nears completion of payments tied to the Millstone nuclear contract, a major driver of past bill increases.
I know we have more work to do, but this bill brings more people to the table, increases transparency, and lays the groundwork for stronger reforms next session.
Senate Bill 4 passed with bipartisan support and now heads to the Governor’s desk.
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