Legislation to make it easier for New Jersey consumers to find electric bill savings was released Monday by an Assembly panel. The bill, sponsored by Assembly DemocratsJohn Burzichelli, Daniel R. Benson and Celeste Riley, authorizes the Board of Public Utilities to promulgate regulations requiring electricity providers to provide information so customers can compare prices and services.

“We want to arm New Jersey consumers with adequate and accurate price comparison information that will enable them to make informed choices when it comes to purchasing electricity,” said Burzichelli (D-Gloucester/Salem/Cumberland). “Every dollar counts, especially these days, so we should be doing what we can to help consumers save.”

“Any electrical customer in New Jersey is eligible to shop around for an electric energy supplier, but this can become a daunting and complicated task,” said Benson (D-Mercer/Middlesex). “Making it easier for consumers to comparison shop and save money is the sensible thing to do.”

“Let’s make it easier for consumers to save money,” said Riley (D-Gloucester/Salem/Cumberland). “An easy-to-use web site detailing price comparison information can lead to immediate savings but maybe even more savings down the road by enticing competition.”

The program would be modeled after Pennsylvania’s PaPowerSwitch website – www.papowerswitch.com – where Pennsylvania residents and businesses can go to find detailed information about all energy providers in the state and their rates, along with guidance as to how to evaluate energy needs and what to consider when choosing a provider.

Under the bill, the board will be able to promulgate regulations to require each electric public utility, electric power supplier, marketer, government aggregator and broker to provide adequate and accurate price comparison information.

The board can then compile that into a single, understandable database and post it on its website in a manner that enables customers to compare prices and services on a uniform basis.

The board may contract with a public or private entity for the purpose of developing, administering, and maintaining the database, but the board shall monitor the work of the entity to ensure that the database is developed, administered, and maintained pursuant to the requirements of this section.

The bill was released 6-0 by the Assembly Telecommunications and Utilities Committee. TLS.