N.J. Stat. § 58:22-10
The department shall determine and establish, after public hearing, just, reasonable and equitable rates and charges for water sold from any project authorized by this act which shall provide net revenues sufficient to meet annual payments of principal and interest chargeable to such project and incurred by the State under the Water Bond Act, 1958. Such rates shall not be subject to revision or other action by any other department, commission, board or body. The department shall have power to revise such rates from time to time, and any contract for the sale of water shall be subject to the exercise of this power. Differentiation in rates and charges may be made on the basis of quantities of water to be supplied, distances between the facility and point of diversion, the cost in making such water available, the place where the water is to be used and the character of such use, and the like. The aggregate revenue produced by such rates shall, so far as practicable, be limited to costs to the State of operation and maintenance and of debt service and to the reimbursement of the State Treasury of the amount of operating deficits, including annual payments of principal and interest, previously incurred by the State.
N.J.S. § 58:22-10