This bill mandates the Board of Public Utilities (BPU) to create a program aimed at promoting the procurement of renewable natural gas and investment in related infrastructure by gas public utilities in New Jersey. The legislation emphasizes the benefits of renewable natural gas in reducing greenhouse gas emissions and supporting a transition to a low carbon energy economy. It establishes regulatory guidelines for the procurement process and outlines definitions for key terms such as "biogas," "gas public utility," and "renewable natural gas infrastructure."

Additionally, the bill introduces a ratemaking mechanism that allows gas public utilities to recover costs associated with qualified investments and operational expenses incurred under the renewable natural gas program. Utilities can recover costs from ratepayers for capital investments, operating costs, and procurement of renewable natural gas from third parties, including affiliates. The BPU is tasked with ensuring that the charges to customers reflect the utility's costs and are consistent with market conditions. The BPU must adopt necessary rules and regulations within 180 days of the bill's enactment to implement these provisions.