This bill mandates that electric public utilities in New Jersey upgrade their electric transmission and distribution systems by incorporating advanced conductors, which are defined as overhead electricity conductors with at least 10 percent lower direct current electrical resistance compared to existing conductors of similar diameter. The bill requires each utility to implement these upgrades wherever practicable during routine maintenance and standalone primary wire replacement projects. Additionally, within one year of the bill's effective date, utilities must assess their systems to identify the most cost-effective locations for these upgrades and file their proposals with the Board of Public Utilities (BPU) within three months of completing the assessment.

Furthermore, the bill allows electric public utilities to petition the BPU to include the reasonable costs associated with advanced reconductoring projects in their rate base, enabling them to recover these costs from ratepayers. The BPU is also authorized to establish criteria for determining what constitutes reasonable costs, taking into account factors such as reduced electrical losses and other consumer, environmental, and system benefits. Overall, the bill aims to enhance the efficiency of the electric grid while potentially lowering costs compared to constructing new power lines.