"Utility Rate Recovery Fairness Act"; prohibits electric public utilities and gas public utilities from recovering certain costs.

The Utility Rate Recovery Fairness Act prevents electric and gas public utilities in New Jersey from passing specific operational costs onto their customers through utility rates. This legislation explicitly bans the recovery of expenses related to legal fees, expert witnesses, employee time spent on rate hearings, and lobbying activities. It also prohibits utilities from including costs for trade association memberships, executive travel, and entertainment in the bills charged to consumers. By disallowing these charges, the bill aims to ensure that only essential service costs are reflected in the rates paid by the public.