Only morons accuse NJ/NY utilities of price gouging. Both states heavily regulate their utilities. Utilities may get large rate increases approved, but it's after they submit substantial evidence of their finances for the next year. The profit margins are basically state controlled.

Regulatory control of margins just incentivizes companies to find loopholes.

Look at all the bullshit that passes for business as usual with Florida utilities -- political campaign donations, self-dealing, constructed overbilling by related subsidiaries, etc.