"Power NJ Act"; establishes advanced nuclear energy procurement program in BPU.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
The Power NJ Act establishes a program within the New Jersey Board of Public Utilities (BPU) to procure advanced nuclear energy facilities in the state. The BPU will issue a request for expressions of interest from entities interested in developing these projects, with specific requirements including a letter of intent with the Nuclear Regulatory Commission. Upon review, the BPU can grant provisional qualification, followed by negotiation and approval as a qualified project, subject to certain conditions and a public comment period. The program also establishes a Reliable Capacity Certificate (RCC) system to ensure revenues from qualified projects are returned to New Jersey ratepayers.
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Sponsors
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14 on record
Primary sponsors
Nicholas Scutari
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