"Power NJ Act"; establishes advanced nuclear energy procurement program in BPU.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- 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 a focus on projects that have a letter of intent filed with the U.S. Nuclear Regulatory Commission. The program aims to secure qualified projects and establish a Reliable Capacity Certificate (RCC) program to return revenues to New Jersey ratepayers. The bill includes numerous committee amendments to strengthen oversight, ensure cost-effectiveness, and protect ratepayers.
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