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NJ S4902
Bill
Status
12/1/2025
Primary Sponsor
Carmen Amato
Click for details
AI Summary
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Requires all unexpended, unencumbered, or unobligated settlement funds from the May 25, 2024 agreement with Ørsted (related to canceled Ocean Wind offshore projects) to be appropriated to the Board of Public Utilities
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Mandates the BPU use these settlement funds to provide ratepayer relief to electric public utility customers throughout New Jersey
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Directs the BPU to adopt rules and regulations establishing a timeline and the form and manner for administering ratepayer relief
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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.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
12/1/2025