The resolution directs the New Jersey Board of Public Utilities (BPU) to investigate the Reliability Pricing Model of PJM Interconnection, L.L.C. (PJM), which is responsible for ensuring reliable and cost-effective electricity distribution in New Jersey and surrounding areas. The investigation aims to assess whether the current capacity market effectively maintains resource adequacy at the lowest possible cost, especially in light of rising capacity prices that contribute to increased electricity bills for consumers. The BPU is tasked with reporting its findings to the Governor and Legislature within 12 months of the resolution's enactment.

Additionally, the resolution calls for New Jersey to collaborate with neighboring states to promote affordable energy practices and advocate for necessary reforms within PJM. This includes urging PJM to expedite the review of new electricity generation applications and implement market reforms that protect ratepayers from escalating capacity prices. The resolution highlights the importance of addressing energy demand growth and the need for timely operationalization of new generation resources to maintain reliability and affordability in the energy market.