The bill proposes significant amendments to New Jersey's energy regulations by repealing certain energy reduction and reporting requirements for electric and natural gas usage. Specifically, it eliminates the obligations for electric power suppliers and basic generation service providers to disclose detailed environmental characteristics of the energy they sell, such as fuel mix and emissions data. Additionally, the bill modifies the renewable energy portfolio standards and emissions disclosure framework, allowing the board to adopt interim standards without the constraints of the "Administrative Procedure Act." It also establishes comprehensive net metering standards, ensuring that providers offer non-discriminatory rates to customer classifications generating electricity from Class I renewable sources, while introducing safety and interconnection standards.

Moreover, the bill repeals the mandates for electric and gas public utilities to achieve specific annual energy usage reductions and removes the Board of Public Utilities' authority to conduct related studies and assessments. This repeal aligns with the current administration's focus on increasing electrification and developing an artificial intelligence hub, aiming to prevent higher costs for residents while supporting clean energy objectives. The bill emphasizes the importance of competitive markets and regulatory authority, while also ensuring energy efficiency programs are accessible to low-income communities. It is set to take effect immediately upon enactment.

Statutes affected:
Introduced: 48:3-87, 48:3-87.9