Bill > S4519

This bill requires electric transmission owners in New Jersey to join and transfer control of their electric transmission facilities to one or more transmission entities approved by the Federal Energy Regulatory Commission (FERC). These transmission entities must meet specific criteria, including separating control of transmission and generation facilities, minimizing duplicative transmission charges (known as "rate pancaking"), improving service reliability, promoting an open and competitive electric marketplace, and ensuring independent governance. The bill defines key terms such as "transmission owner" (which includes electric public utilities) and "transmission entity" (like regional transmission organizations or independent system operators). Transmission owners must comply with these requirements by the bill's effective date, and the Board of Public Utilities is authorized to adopt necessary regulations to implement the law. The primary goal appears to be increasing efficiency, reducing costs, and promoting competition in the electric transmission system by encouraging transmission owners to participate in broader, more coordinated regional transmission organizations.

Budget and Finance, Business and Industry

https://www.njleg.state.nj.us/bill-search/2024/S4519