News Stories
Sponsored by Earth Etch. Regulatory insight and compliance solutions for today’s energy markets.
Reminder – Comments on Staff’s ZEC Straw Proposal Due Today
Dockets:
EO18080899
,New Jersey
Category: New Jersey
Related Categories: Electric, Nuclear Energy Generation, Renewable Energy Credits (RECs), Utility, Zero Emissions Credit (ZEC)
As reported previously, on March 24, 2026 the New Jersey BPU issued an order requesting comments on Staff straw proposal for “a refund mechanism for nuclear power plants (‘Units’) that received or utilized a federal production tax credit (‘PTC’), which constitutes a double payment for [ZECs] during Calendar Year 2024” (CY24).
Among other things, Staff specifically recommends:
- Determining “the Base Value of double payment based upon the smaller of” the following: (i) “the as-filed PTC for each owner or partial owner of a Selected Unit for CY24”; and (ii) “the value of ZECs received by the Selected Units owners in CY24”;
- Determining “the Refund Value for CY24 by adding interest at the annual interest rate determined by [BPU] for customer deposits,” which “was simple interest of 5.06%”;
- Refunding the refund value to the electric utilities and Butler “via electronic funds transfer (‘EFT’) based upon a proration equal to the percent of total retail sales for each”;
- The utilities and Butler “will refund retail customers through a ZEC Reconciliation Charge Rate as part of the existing ZEC Recovery Charge… evenly distributed, on a [kWh] basis” over 6/26 -5/27; and
- The utilities and Butler must “track any over/under balances in their ZEC refund accounts and submit a reconciliation filing” by July 1, 2027.
