Definition of Market transition charge

Market transition charge means a charge imposed pursuant to section 13 of P.L.1999, c. 23 (C.48:3-61) by an electric public utility, at a level determined by the board, on the electric public utility customers for a limited duration transition period to recover stranded costs created as a result of the introduction of electric power supply competition pursuant to the provisions of P.L.1999, c. 23 (C.48:3-49 et al.).