NJ S4519

Requires all transmission owners operating electric transmission facilities in New Jersey to become members of a FERC-approved regional transmission organization, independent system operator, or similar transmission entity and transfer operational control to that entity

Mandates that qualifying transmission entities must separate control of transmission from generation facilities, implement policies to minimize duplicative transmission charges (rate pancaking), and improve service reliability within the state

Requires transmission entities to have independent governance structures where board members have no affiliation with users of the transmission facilities during their tenure

Transmission entities must promote open and competitive electric generation markets, eliminate barriers to market entry, and provide comparable, non-discriminatory transmission access while minimizing system congestion

Authorizes the Board of Public Utilities to adopt rules and regulations necessary to implement the requirements