The resolution directs the New Jersey Board of Public Utilities (BPU) to investigate the Reliability Pricing Model of PJM Interconnection, L.L.C., which is responsible for managing electricity distribution in New Jersey and surrounding areas. The investigation aims to assess whether this model effectively ensures resource adequacy at the lowest possible cost, as rising capacity prices have been contributing to increased electricity bills for consumers. The BPU is tasked with reporting its findings to the Governor and Legislature within 12 months. Additionally, the resolution highlights the need for timely reviews of new electricity generation applications, as delays in PJM's interconnection queue hinder the operationalization of new resources necessary for maintaining reliability and affordability.

Furthermore, the resolution emphasizes the importance of collaboration between New Jersey and neighboring states to promote equitable energy practices and advocate for market reforms within PJM. It calls for a focus on carbon-free energy sources and aims to mitigate the impacts of climate change on energy demand and costs. The BPU has been actively working to protect ratepayers from price increases and has coordinated with other states to push for necessary reforms in the capacity market. The resolution reflects a commitment to ensuring affordable energy for all residents, particularly vulnerable populations disproportionately affected by rising energy costs.