NJ Update: New Requirements in November–One Page Contract Summary and New Telemarketing Rules
November 10, 2014
On September 30, the New Jersey Board of Public Utilities signed an Order requiring the inclusion of a new one page Contract Summary for third party energy suppliers (TPS), which takes effect on November 15. The Contract Summary contains information similar to the requirements in Pennsylvania and must be written in plain language, utilize at least a 12 point font size, and fit on a single 8.5” x 11” page, among other requirements.
The inclusion of a one page summary was discussed at recent stakeholder discussions conducted by the BPU in connection with reevaluating its TPS rules. The Board is anticipated to propose new, comprehensive regulations within the next few months.
At its September 30 meeting, the Board also approved the special adoption of new TPS telemarketing rules, which take effect on November 3. The Board was required to adopt the regulations by a new law that was passed earlier this year. The regulations largely mirror the statute with some additional clarifying language.
If you have any questions about the new requirements, please contact Grace Strom Power at (609) 989.5008; gpower@eckertseamans.com.
This Eckert Seamans Energy and Utilities Blog is intended to keep readers current on matters affecting businesses and is not intended to be legal advice.