NJ A4490

Establishes a four-year pilot program administered by the Board of Public Utilities allowing gas utilities to recover costs for thermal energy network projects through ratepayer charges, with a maximum of one project approved per region (northern, central, southern, and coastal New Jersey).

Thermal energy networks supply heating and cooling to multiple buildings via underground piping using geothermal energy or renewable thermal sources like waste heat and wastewater, intended to replace new or aging natural gas infrastructure.

Gas utilities must submit thermal infrastructure plans for board review, which evaluates project scope, lifecycle costs, expected benefits including greenhouse gas reductions, impact on ratepayers, and service to low-to-moderate income households and overburdened communities.

Board must publish a report within six months after the pilot program ends, summarizing results and determining whether to extend the program, make it permanent, or recommend regulating geothermal energy distribution as a public utility service.

Amends R.S.48:2-13 to include thermal energy distribution under the definition of "public utility," bringing these systems under Board of Public Utilities jurisdiction and regulation.