"Public Utility Rate Stabilization Act"; permits gas and electric public utilities to employ alternative ratemaking mechanisms.

This bill permits New Jersey gas and electric utilities to use alternative rate-setting methods - such as multi-year plans, formula-based adjustments, or performance-based pricing - instead of traditional base rate cases. Utilities would propose these plans to the New Jersey Board of Public Utilities, which must establish rules for their implementation, including requirements for customer rate stability and utility performance. The changes aim to reduce the frequency of lengthy rate case proceedings while maintaining affordable, predictable rates for customers. This directly affects utilities' billing processes and customers' energy costs.