News Stories

Additionally, the bill sets strong safeguards for ratepayers – including assuring that they won’t bear any costs until a project is built and supplying energy, nor be responsible for cost overruns.

Other safeguards include:

• Requiring projects to secure federal financing, shifting the risk away from New Jersey ratepayers;
• Requiring any project provide a net benefit to ratepayers;
• Requiring at least two separate public comment periods and a public hearing in any proposed municipality;
• Requiring NJBPU and NJEDA to take into account independent assessments by the Division of Rate Counsel to ensure ratepayers’ interests remain central at every step.

• Signing Executive Orders 1 and 2 on her first day in office to freeze electric rate hikes and accelerate new power generation through an all-of-the-above energy strategy.
• Successfully advocating for a price collar on PJM to help stabilize electricity costs over the next four years.
• Lifting the 50-year de facto moratorium on new nuclear power and launching a Nuclear Task Force to advance new nuclear opportunities.
• Announcing a historic expansion of the state’s Community Solar Energy Program to support up to 3,000 MW of new solar capacity.
• Approving 18 new clean energy projects, including 15 solar projects and three battery storage projects that will produce enough energy to power over 40,000 homes.
• Awarding $79 million through the New Jersey Economic Development Authority to support 10 large-scale clean energy projects.
• Rolling out the most comprehensive plan in the nation on data centers to establish guardrails that will hold them accountable, while positioning New Jersey to be a leader in AI innovation.

Power NJ Act (A4881/S4296 – DeAngelo, Bailey, Karabinchak / Burzichelli, Smith, Scutari)

• The bill creates a competitive framework, administered jointly by NJBPU and the NJEDA, for the State to procure at least 1,100 MW of new nuclear generation.
  • Within 180 days (by March 10, 2027) – NJBPU opens request for expressions of interest. Developers have 60 days to submit proposals with regulatory, environmental, financial, and workforce information.
  • Next 90 days (by June 8, 2027) – Provisional qualifications. NJBPU qualifies projects to enter the negotiation period or denies them.
  • Next 12 months (by June 8, 2028) – Negotiations and stipulations. NJBPU and NJEDA negotiate with project entities including setting accurate cost estimates, price of electricity, and other terms.
  • Next 90 days (before September 6, 2028) – NJBPU issues Final Board Order if project provides a net benefit to ratepayers, costs are not unreasonable or excessive in light of customers’ overall bills, and the developer has secured federal financing.
• Ratepayers pay nothing during construction. Once the plant is delivering power, suppliers purchase Reliable Capacity Credits (RCCs) at a fixed negotiated price, instead of volatile market prices