The Advanced Grid Technologies Act seeks to improve the oversight of supplemental transmission projects in New Jersey by requiring electric public utilities to obtain a certificate of public convenience and necessity from the Board of Public Utilities (BPU) prior to initiating such projects. The legislation highlights the integration of advanced transmission and distribution technologies, which are expected to enhance reliability, efficiency, and cost savings. The BPU will evaluate applications to ensure compliance with established grid performance benchmarks and will expedite the review process for projects that incorporate these advanced technologies.

The bill specifies that utilities must demonstrate the use of advanced technologies in their applications and provide justifications if they do not. It establishes two distinct review processes based on whether utilities meet the grid performance benchmarks, with the BPU required to make a determination within 30 days. The BPU must issue decisions within 90 days for streamlined applications and 180 days for comprehensive reviews, with provisions for extensions. Additionally, the act allows the BPU to create cost recovery mechanisms and deployment incentives, mandates regular updates to grid performance benchmarks, and emphasizes public participation while ensuring confidentiality. Overall, the legislation aims to modernize New Jersey's electric grid and align utility incentives with consumer interests.