The bill amends the Electric Discount and Energy Competition Act to expand the definition of "Class I renewable energy" to include fusion energy, thereby recognizing its potential as a clean energy source alongside existing technologies such as solar, wind, and geothermal. Additionally, the bill specifies that Class I renewable energy will also encompass wave or tidal action, small-scale hydropower facilities with a capacity of three megawatts or less, and methane gas from various sources, provided they meet certain sustainability criteria. This legislative change aims to promote a broader range of renewable energy technologies and encourage their development within New Jersey's energy landscape.

Furthermore, the bill introduces new definitions and clarifications related to the regulation of interstate electricity, natural gas, and oil transmission. Key terms such as "financing entity," "gas public utility," and roles for "government aggregators" and "private aggregators" are defined to enhance the regulatory framework surrounding energy production and distribution. The legislation emphasizes renewable energy and greenhouse gas emissions standards, detailing the responsibilities of the PJM Interconnection, L.L.C. in managing the regional electricity grid. Overall, the bill seeks to enhance clarity and efficiency in energy regulation, promote renewable energy initiatives, and facilitate a transition to a more competitive energy market while ensuring consumer protection and environmental sustainability.

Statutes affected:
Introduced: 48:3-51