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 market reforms within PJM. This includes expediting the review of new electricity generation applications to address delays that hinder the timely operationalization of new resources, which are essential for maintaining reliability and controlling costs. The resolution emphasizes the importance of protecting ratepayers, particularly low-income families, from the adverse effects of rising energy prices while also prioritizing carbon-free energy sources and addressing climate change impacts on energy demand and costs.