NJ S3141

Directs the New Jersey Board of Public Utilities to establish a renewable natural gas program allowing gas utilities to procure renewable natural gas and invest in related infrastructure upon petition by a utility.

Sets escalating portfolio targets for renewable natural gas distribution: up to 5% (2022-2024), 10% (2025-2029), 15% (2030-2034), 20% (2035-2039), 25% (2040-2044), and 30% (2045-2050) of gas distributed to retail customers.

Defines renewable natural gas as pipeline-quality biogas, hydrogen derived from Class I or II renewable energy, or methane derived from biogas, renewable hydrogen, carbon oxides from renewable sources, or waste carbon dioxide.

Requires BPU to adopt a rate recovery mechanism allowing utilities to recover all prudently incurred costs for qualified investments and third-party renewable natural gas procurement from ratepayers.

Caps annual program costs at 5% of a utility's total revenue requirement, beyond which additional investments require BPU approval.