Legislation sponsored by Senator Robert Singer to increase consumer protections for customers of third-party energy suppliers was signed into law by Governor Christie.
Sen. Robert Singer’s legislation increasing consumer protections for customers of third-party energy suppliers was signed into law. (Flickr)
“Today’s bill signing ensures a greater level of transparency in the third-party energy supplier marketplace and establishes clear standards to better protect consumers,” said Singer. “Too many customers who switched to third-party suppliers in hopes of lowering costs have been lift with astronomical gas or electric bills due to confusing or misleading contracts.”
The legislation, A-3851/S-2468, requires the BPU to establish contract standards between customer and third-party electric and gas suppliers, including requirements that the contract detail in plain language whether it is for a fixed rate or a variable rate and provide a brief explanation of the difference between a fixed rate and a variable rate that is easily understandable by the general public.
This new law will help customers be better informed about the contract they are entering into and will increase trust in third-party marketplace as a whole,” Singer added.