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 emphasizes the integration of advanced transmission and distribution technologies, which enhance reliability and efficiency while offering cost savings. The BPU will evaluate applications to ensure compliance with established grid performance benchmarks and will expedite the review process for projects that utilize these advanced technologies.

The bill outlines specific requirements for utilities in their applications, including the necessity to demonstrate the use of advanced technologies and provide justifications for any omissions. The BPU is responsible for facilitating public participation in the review process and must issue determinations within designated timeframes. Furthermore, the act allows the BPU to establish cost recovery mechanisms and deployment incentives to promote the adoption of advanced technologies, aiming to modernize New Jersey's electric grid and enhance service reliability for consumers. The BPU is also tasked with creating grid performance benchmarks that align with federal standards, which must be reviewed and updated every three years, while ensuring that utilities do not double recover costs through both state and federal rates.