This bill mandates that electric public utilities in New Jersey must apply to the Board of Public Utilities (BPU) for a certificate of public convenience and necessity before initiating any transmission projects. The application must include information deemed necessary by the BPU and an application fee determined by the board. The bill outlines that the BPU must act on the application within 150 days, with the possibility of a 75-day extension if deemed in the public interest. The BPU's approval will depend on several criteria, including the necessity of the project for reliable service, the utility's capability to manage construction, and the financial implications for the utility and its customers.

Additionally, the bill defines a transmission project as the construction of new transmission lines or modifications to existing ones, excluding projects already approved by PJM Interconnection, L.L.C. The BPU is also tasked with establishing rules and regulations for the application process and determining the application fee. This legislation aims to ensure that transmission projects are necessary, cost-effective, and managed efficiently, thereby promoting reliable electricity service in New Jersey.