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NJ S4693
Bill
Status
6/30/2025
Primary Sponsor
John Burzichelli
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AI Summary
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Requires the Board of Public Utilities to collaborate with neighboring states to research alternatives to PJM Interconnection's capacity market, which saw auction prices increase nearly 10-fold in July 2024, raising consumer costs from $2.2 billion to $14.7 billion
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Directs the BPU to evaluate three options: requiring electric load serving entities to contract for 80% of needed capacity on a bilateral basis for at least five years; withdrawing from PJM's reliability pricing model to form a multi-state compact; or withdrawing from PJM's transmission grid entirely
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If withdrawing from PJM's transmission grid, the state would either establish an independent electric transmission grid or join an existing grid in another state or region
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The BPU must submit a report with findings and recommendations to the Governor and Legislature by December 31, 2025
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Cites concerns that PJM has not adequately addressed ratepayer impacts, has not been responsive to state energy policies, and that interconnection backlogs are delaying new generation and reducing competition
Legislative Description
Requires BPU to work with neighboring states to research and recommend certain action concerning electric capacity and transmission.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
6/30/2025