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NJ A6226
Bill
Status
12/8/2025
Primary Sponsor
Brian Rumpf
Click for details
AI Summary
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Appropriates all unexpended, unencumbered, or unobligated funds from the May 25, 2024 settlement agreement with Ørsted (related to canceled offshore wind projects) to the New Jersey Board of Public Utilities
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Directs the Board of Public Utilities to use the settlement funds exclusively to provide ratepayer relief to electric public utility customers
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Requires the Board to adopt rules and regulations establishing a timeline, form, and manner for administering the ratepayer relief program
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Defines "Orsted" to include Ørsted A/S, Orsted North America Inc., Orsted Wind Power North America LLC, Ocean Wind LLC, and Ocean Wind II, LLC
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Takes effect immediately upon enactment
Legislative Description
Requires offshore wind project escrow funds to be remitted to BPU for certain ratepayer relief.
Telecommunications and Utilities
Last Action
Introduced, Referred to Assembly Telecommunications and Utilities Committee
12/8/2025