On February 22, 2026, New Jersey Governor announced significant reforms to the state's public utility laws aimed at increasing transparency and accountability within the industry. The changes come in response to growing concerns over rising utility rates and a lack of oversight in the state's energy sector.One of the key aspects of the reforms is the establishment of a new regulatory body, the New Jersey Public Utility Commission (NJ-PUC), which will replace the existing Board of Public Utilities (BPU). The NJ-PUC will have increased authority to oversee and regulate the state's public utilities, including electric, gas, and water companies.In addition to the creation of the NJ-PUC, the reforms also include new requirements for public utilities to regularly report on their rates, investments, and operations to the commission. This increased transparency is aimed at providing consumers with more information about how their utility rates are determined and ensuring that companies are held accountable for their actions.Furthermore, the reforms will also require public utilities to undergo regular independent audits to ensure compliance with state regulations and to identify any potential inefficiencies or mismanagement within the industry. This measure is intended to prevent the kind of financial mismanagement that has led to rate hikes in the past.Governor emphasized the importance of these reforms in protecting consumers and ensuring that public utilities operate in a fair and transparent manner. "These changes will help to restore confidence in our public utility system and ensure that consumers are not unfairly burdened by rising rates," the Governor stated.The reforms are set to go into effect later this year, with the NJ-PUC expected to begin operations by the end of 2026. The state government has also allocated additional funding to support the implementation of the new regulatory body and ensure that it has the resources needed to effectively oversee the public utility sector.Overall, the reforms represent a significant step towards increasing transparency and accountability within New Jersey's public utility industry. By establishing the NJ-PUC and implementing new oversight measures, the state aims to protect consumers and promote a more efficient and effective energy sector for all residents.