The Clean Firm Energy Reliability Act is designed to address New Jersey's growing electricity demand and rising capacity costs by establishing a program through the Board of Public Utilities (BPU) to procure clean firm electricity generation facilities. The legislation emphasizes the role of nuclear energy in the state's electricity supply and carbon-free generation. The BPU is required to issue a request for expressions of interest within 180 days of the bill's effective date, allowing entities to submit detailed proposals for projects that enhance energy reliability and benefit ratepayers. The bill also outlines a negotiation process for provisional qualification, ensuring that key project terms are documented in a final board order, which will include conditions related to costs, timelines, community engagement, and labor sourcing.

To facilitate the funding of these clean energy projects, the bill introduces a clean firm development charge (CFDC), a non-bypassable charge imposed on all electric utility customers. The funds collected will be deposited into a newly established Clean Firm Energy Development Fund, which the BPU will manage to finance qualified projects. The BPU is also empowered to adopt necessary rules and regulations for the implementation of the program, reinforcing the state's commitment to enhancing energy infrastructure while promoting environmental sustainability.

Statutes affected:
Introduced: 48:3-60