NJ A6157

Establishes a fixed $10 per megawatt hour alternative compliance payment (ACP) for electric power suppliers and basic generation service providers to satisfy Class II renewable energy requirements

Class II renewable energy includes hydropower facilities between 3-30 megawatts capacity and resource recovery facilities that meet environmental standards

Removes Board of Public Utilities discretion in setting Class II ACP values by codifying the $10 amount in statute

Requires any alternative compliance payments collected to be refunded directly to ratepayers by electric public utilities

Adds formal definition of "alternative compliance payment" to state energy law as a payment option for meeting renewable energy portfolio standard requirements