Bill > A6154

This bill establishes a comprehensive program to promote advanced nuclear energy in New Jersey by creating a framework for developing and supporting new nuclear reactor projects. The bill recognizes the potential of advanced nuclear reactors as a carbon-free, reliable energy source and aims to address the state's growing electricity demand and grid reliability challenges. The Board of Public Utilities (BPU) will conduct a feasibility study, issue a request for expressions of interest for constructing at least one advanced nuclear reactor generating at least 1,100 megawatts, and potentially designate qualified projects. Interested entities must submit detailed information about their proposed projects, including licensing pathways, site characteristics, cost estimates, and financing structures. The BPU will evaluate these proposals and may provisionally qualify projects based on their potential to meet the state's energy needs at a reasonable cost. If a project is fully qualified, the BPU will establish an Advanced Nuclear Energy Certificate (ANEC) program requiring electricity suppliers to source a percentage of their power from nuclear energy. The bill also creates an Advanced Nuclear Development Charge (ANDC) to help fund project construction, with protections to ensure ratepayers are not unduly burdened and that project risks are appropriately shared between shareholders and consumers. The ultimate goal is to support the development of safe, innovative nuclear energy technology that can complement renewable energy sources and enhance New Jersey's energy infrastructure.

Government Affairs, Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2024/A6154