This bill mandates that electric public utilities in New Jersey upgrade their electric transmission and distribution systems by replacing conventional overhead electricity conductors with advanced conductors, wherever feasible. Advanced conductors are defined as those with at least 10 percent lower direct current electrical resistance compared to existing conductors of similar diameter. The bill requires each utility to conduct an assessment within one year of the act's effective date to identify the most cost-effective locations for these upgrades and to file a proposal with the Board of Public Utilities (BPU) within three months of completing the assessment.

Additionally, 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 benefits to consumers and the environment. Overall, the bill aims to enhance the efficiency of the electric grid while potentially lowering costs compared to building new power lines.