The Power NJ Act establishes a framework for advancing nuclear energy procurement in New Jersey, aiming to support the construction of advanced nuclear energy projects through the New Jersey Board of Public Utilities (BPU). The legislation addresses the growing demand for reliable, carbon-free energy sources and highlights the benefits of nuclear energy, such as high capacity factors and potential for job creation. The BPU is tasked with issuing a request for expressions of interest within 180 days of the act's effective date, requiring interested entities to submit detailed proposals that include regulatory and technical information, as well as economic impact analyses. The act emphasizes the importance of these projects in achieving the state's energy and environmental goals while fostering economic growth.

Additionally, the bill introduces a Reliable Capacity Certificate (RCC) program, mandating electric power suppliers to purchase RCCs to support advanced nuclear energy initiatives. Revenues generated from these projects will be returned to New Jersey ratepayers. The BPU is empowered to issue final orders for approved projects and implement immediate rules and regulations, which will remain effective for 18 months before needing re-adoption. The act underscores the significance of financial integrity and access to capital for project proposals, while ensuring that all project costs are justified and that community engagement and environmental protection are prioritized throughout the project lifecycle.