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NJ S3667
Bill
Status
2/24/2026
Primary Sponsor
Carmen Amato
Click for details
AI Summary
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Unexpended, unencumbered, or unobligated funds from New Jersey's May 25, 2024 settlement agreement with Ørsted (related to canceled offshore wind projects) must be appropriated to the Board of Public Utilities (BPU).
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The BPU is required to use these settlement funds exclusively to provide ratepayer relief to electric public utility customers throughout the state.
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The BPU must adopt rules and regulations establishing the timeline, form, and manner for administering the ratepayer relief program.
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The bill 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
2/24/2026