This bill mandates that electric public utilities must submit a transmission project proposal to the Board of Public Utilities (BPU) for approval before initiating any transmission project. The proposal must include an assessment of the project's potential environmental and public safety impacts, a detailed documentation of associated costs, an evaluation of whether the project addresses a demonstrated need with public benefits, and identification of any alternative project ideas that could achieve the same goals at a lower cost. The BPU is required to review the proposal within 90 days and determine if it is reasonable, in the public interest, and cost-effective, ultimately approving it if these criteria are met.

The bill aims to enhance oversight of transmission projects to ensure they are necessary and economically viable, as highlighted by the testimony of the Director of the Division of Rate Counsel. By requiring BPU approval prior to the commencement of such projects, the legislation seeks to potentially lower transmission costs and improve the efficiency of energy infrastructure development in New Jersey.