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 providing a significant portion of the state's electricity and defines "clean firm energy resources" as facilities that produce minimal greenhouse gas emissions and can operate continuously, including advanced nuclear reactors. The BPU is required to issue a request for expressions of interest for the construction of these resources within 180 days of the bill's effective date, allowing interested entities 60 days to submit their proposals.

To fund these initiatives, the bill introduces a clean firm development charge (CFDC), a non-bypassable charge imposed on all electric utility customers, with proceeds directed to a newly established Clean Firm Energy Development Fund. The BPU will manage this fund, ensuring financial activities are reported in the Governor's annual budget message. The bill outlines a process for project qualification, where the BPU will evaluate proposals based on their potential to enhance energy reliability and benefit ratepayers, leading to negotiations for project terms that include environmental protection, community engagement, and labor standards.

Statutes affected:
Introduced: 48:3-60