CNBNews

Washington, DC -Today, Congressman Van Drew announced that he will be holding a field hearing in the district to address the escalating electricity costs impacting New Jersey families. In addition, he will be introducing a package of five critical bills designed to enhance transparency from utility companies and protect consumers from these unfair hikes in the future.

"We need to ensure big companies cannot take advantage of the system and leave hardworking families paying the price," said Congressman Van Drew. "This package of bills is just the beginning of holding utility companies accountable. I plan to introduce more legislation to address these problems and will be holding a field hearing in South Jersey to demand answers and solutions from these companies. We will not stop until we get the transparency and accountability the public deserves."

The field hearing will be held in South Jersey with a date, time, and location to be released soon. Exelon and the New Jersey Board of Public Utilities (NJBPU) will be invited along with experts in the field.

Bills Included in the Package:

1. Bill to prohibit utilities from passing the costs of projects like smart meters onto consumers through rate hikes.

2. Bill to close loopholes that currently allow large companies to acquire small utilities while operating under different names for tax benefits.

3. Bill to mandate utility companies to provide a 30-day notice of planned rate increases, detailing its justification and consumer impact. Any increases of 3% or more must be reported to the Department of Energy (DOE) 60 days prior with fines up to $10,000 for non-compliance.

4. Bill to require utility companies to provide transparent reporting on service interruptions and overdue payments to the DOE, which is information not currently collected. This increases transparency and will lead to more effective oversight of utilities and ensure more fairness for consumers being treated unfairly in certain regions like South Jersey.

5. Bill to require states to establish procedures to protect households from energy shutoffs and late fees when facing rate increases above 5%.