The bill seeks to eliminate the recovery of costs associated with demand side management programs through the societal benefits charge, which is a mandatory fee imposed on all electric and gas public utility customers. It amends Section 12 of P.L.1999, c.23 (C.48:3-60) to remove costs related to demand side management programs that were approved by the board prior to April 30, 1997. This change aims to streamline the cost recovery process for utilities, allowing them to focus on other areas such as social programs, nuclear plant decommissioning costs, and consumer education.

Additionally, the bill clarifies funding mechanisms for energy efficiency and renewable energy programs, permitting electric and gas public utilities to invest in these areas on a regulated basis, irrespective of facility location. It grants the board authority to fund improvements through various means, excluding the societal benefits charge, and emphasizes a petition process for cost recovery that considers job creation and environmental benefits. The bill also modifies the issuance of tax clearance certificates and repeals two sections related to demand side management programs, with the act taking effect immediately upon passage.

Statutes affected:
Introduced: 48:3-60, 48:3-98.1, 54:50-39