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 contributed 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 emphasizes the need for New Jersey to collaborate with neighboring states to promote affordable energy practices and advocate for necessary reforms within PJM to protect ratepayers from escalating capacity prices.

The resolution highlights concerns regarding the impact of rising energy costs on low-income families and the delays in PJM's interconnection queue, which hinder the timely operationalization of new electric generation resources. These delays prevent the introduction of competitive resources needed to maintain reliability and affordability in the energy market. The BPU has been actively working to incentivize new generation sources and coordinate with other states to push for reforms in the capacity market. The resolution underscores the importance of these initiatives in addressing the growing energy demand and mitigating the financial burdens on consumers.