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 New Jersey bill requires the Board of Public Utilities (BPU) to create and publish best practices for electric public utilities covering six areas: generation, transmission, operations, consumer education, business management, and affordability. During rate increase reviews, the BPU must assess whether utilities are making "adequate progress" toward meeting these standards, comparing them to other New Jersey utilities. If a utility fails to demonstrate this progress, the BPU cannot approve its requested rate hike and must provide a compliance assessment with recommended corrective steps. The BPU must update these best practices periodically to reflect current industry standards and publish them online for public access. The bill directly affects electric utilities seeking rate increases and the BPU’s review process.