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.

Importantly, the bill does allow the BPU to retire a covered facility if it is deemed non-functional or poses a threat to public health and safety. This provision ensures that safety concerns can still take precedence over the retirement restrictions. The bill aims to ensure a smooth transition to renewable energy sources while maintaining the reliability of electricity supply in New Jersey.