This bill establishes restrictions on the New Jersey Board of Public Utilities (BPU) regarding the retirement of electric generation facilities, referred to as "covered facilities." Specifically, the BPU is prohibited from retiring or recommending the retirement of a covered facility unless it has identified one or more "replacement facilities" that can adequately meet the electricity demand previously served by the covered facility and can become operational in a timely manner. The bill defines a covered facility as any electric generation facility connected to New Jersey's electric grid, while a replacement facility is defined as one that generates electricity solely from renewable sources, including thermal, wind, hydropower, and nuclear energy.

Additionally, the bill clarifies that the BPU is not restricted from retiring a covered facility that is no longer functional or poses a threat to public health and safety. This provision ensures that safety concerns are prioritized while still promoting the transition to renewable energy sources. The act is set to take effect immediately upon passage.