NJ S684

Establishes a four-year pilot program allowing gas public utilities to recover costs of thermal energy network projects through ratepayer charges, with a maximum of one project approved in each of four state regions (northern, central, southern, and coastal)

Defines thermal energy networks as projects supplying heating or cooling to multiple buildings via underground piping using heat pumps that exchange geothermal energy or other renewable thermal sources such as waste heat, wastewater, or surface/underground water

Requires gas utilities to submit thermal infrastructure plans to the Board of Public Utilities, which will evaluate proposals based on lifecycle costs, greenhouse gas reduction benefits, service to low-to-moderate income households and overburdened communities, and potential to replace aging or leaking natural gas infrastructure

Mandates the Board to publish a report within six months of pilot program expiration summarizing results and recommending whether to extend, convert to a permanent program, or allow geothermal energy distribution as a regulated public utility service

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