| Legislation sponsored by Assemblyman Wayne P. DeAngelo that would establish a pathway for advanced nuclear energy development in New Jersey cleared the Assembly Telecommunications and Utilities Committee today. Bill A4881, known as the “Powering Opportunity, Workforce, and Energy Reliability for New Jersey Act,” seeks to strengthen energy reliability, support workforce opportunities, and help meet the state’s future energy needs. The “Power NJ Act” would direct the New Jersey Board of Public Utilities (BPU), in collaboration with the New Jersey Economic Development Authority (EDA), to establish a program for procuring advanced nuclear energy facilities in the state. The legislation would create a process for evaluating and approving projects that can help address growing energy demands while ensuring benefits for ratepayers and maintaining system reliability. “As New Jersey strives to meet growing energy demands, we need to be proactive in pursuing reliable and forward-looking solutions,” said Assemblyman DeAngelo (D-Mercer, Middlesex). “Advanced nuclear technology has the potential to strengthen our energy infrastructure, support good-paying jobs, and provide a stable source of power that can meet future needs. This bill is about building a strong energy future while making sure we are creating opportunities and protecting ratepayers.” Under the bill, interested entities would submit proposals for advanced nuclear projects through a process overseen by the BPU. Projects would be evaluated based on their ability to improve reliability and resilience, contribute to capacity needs, and provide value for ratepayers. The legislation would also lay the groundwork for the establishment of a Reliability Capacity Certificate program. The program would be designed to support approved projects while allowing certain revenues generated by facilities to be returned to New Jersey consumers. In addition to A4881, the committee also advanced two other bills sponsored by Assemblyman DeAngelo focused on strengthening the state’s energy infrastructure. Bill A4882, the “New Jersey Natural Gas Modernization Act,” would establish expedited permitting pathways for certain qualifying energy projects to support system reliability and infrastructure upgrades. Bill A1072 would direct the BPU to establish a distributed energy storage incentive program. |