NJ S4306

Allows electric public utilities to own and operate electric generation facilities, reversing deregulation under the Electric Discount and Energy Competition Act; utilities that choose this option must file updated bundled rate tariffs and their customers lose the ability to choose third-party electric power suppliers

Permits gas public utilities to discontinue retail choice for residential customers by filing updated bundled rate tariffs with the Board of Public Utilities, eliminating those customers' ability to select third-party gas suppliers

Requires electric public utilities to obtain a certificate of public convenience and necessity from the Board of Public Utilities before constructing generation facilities of 100 megawatts or more, including a one-year early assessment period with public hearings and a maximum $250,000 application fee

Mandates that the Board conduct fault hearings when an electric utility seeks rate increases exceeding $10 million to recover costs from accidents at generating or transmission facilities; utilities found at fault cannot recover fault-related repair, cleanup, or damage costs from ratepayers

Prohibits utilities from recovering accident costs exceeding their ownership percentage in a facility, though the Board may allow cost mitigation through energy conservation programs, renewable energy investments, or interest-free loans to customers for efficiency improvements