The Load Forecast Accountability Act mandates that the New Jersey Board of Public Utilities (BPU) collect and review load-forecasting information from electric public utilities. This information is crucial for estimating future peak demand and is used by PJM Interconnection, L.L.C. (PJM) to determine system planning needs and capacity requirements. The bill emphasizes the importance of transparency in the load forecasting process, as the current methods are deemed opaque, which undermines confidence among policymakers and stakeholders. To address this, the BPU is required to analyze the load-forecasting data and coordinate with PJM and other regulatory authorities to ensure accurate and non-duplicative planning.

Additionally, the BPU must submit annual reports to the Governor and the Legislature starting in 2026, summarizing the load-forecasting information collected, the analysis conducted, and the coordination efforts with PJM and other authorities. The bill defines "load-forecasting information" as data used to estimate future peak demand, excluding short-term or day-ahead forecasts. The act will take effect immediately and is set to expire in 2035 upon the submission of the final report by the BPU.