New Jersey 222nd Legislature Status: Introduced Bipartisan · 5 D · 2 R cosponsors

S 4296 — "Power NJ Act"; establishes advanced nuclear energy procurement program in BPU.

Last action — SUB BY

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed General Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced May 14, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 54% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 7 sponsors

    3 primary, 4 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (5 D · 2 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill establishes a program for procuring advanced nuclear energy in New Jersey.

The Power NJ Act creates an advanced nuclear energy procurement program under the Board of Public Utilities in New Jersey. This program aims to facilitate the procurement of advanced nuclear energy technologies.

What this means for you
  • Environment: This program may lead to the development of cleaner energy solutions and reduction in carbon emissions.

Summary

Power NJ Act-estab advanced nuclear energy procurement program in BPU

Bill Text

What changed in the latest version

441 added · 335 removed

Plain-language change summary

The amendments to the bill remove references to the effective load-carrying capacity of nuclear facilities and adjust language related to electricity prices, changing "reasonably priced" to "affordable." It also changes "contraction" to "lack" in the context of generation capacity. These changes clarify the text regarding the availability and pricing of electric power in New Jersey.

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S4296 SENATE, No.
S4296 1R [First Reprint] SENATE, No.
  CURRENT VERSION OF TEXT      As introduced.
  CURRENT VERSION OF TEXT      As reported by the Senate Budget and Appropriations Committee on June 28, 2026, with amendments.
       1.  This act shall be known and may be cited as the “Powering Opportunity, Workforce, and Energy Reliability for New Jersey Act” or “Power NJ Act.”        2.  a.  The Legislature finds and declares that:
       1.  This act shall be known and may be cited as the “Powering Opportunity, Workforce, and Energy Reliability for New Jersey Act” or “Power NJ Act.”         2.  a.  The Legislature finds and declares that:
     (1) Electricity consumption across the regional grid is increasing at a pace that outstrips the entry of new generation resources, placing the reliability of electric service at serious risk for customers throughout New Jersey;
      (1)  Electricity consumption1, primarily driven by data center consumption, is increasing1 across the regional grid 1[is increasing]1 at a pace that outstrips the entry of new generation resources, placing the reliability of electric service at serious risk for customers throughout New Jersey;
     (2) The resulting contraction in available generation capacity has driven wholesale capacity market prices to record highs, costs that are ultimately borne by New Jersey electric ratepayers;
      (2)  The resulting 1[contraction] lack1 in available generation capacity has driven wholesale capacity market prices to record highs, costs that are ultimately borne by New Jersey electric ratepayers;
     (3) Dependable and reasonably priced electric power is essential to sustaining the competitiveness of the State’s economy and to protecting the health, safety, and well-being of New Jersey residents;
      (3)  Dependable and 1[reasonably priced] affordable1 electric power is essential to sustaining the competitiveness of the State’s economy and to protecting the health, safety, and well-being of New Jersey residents;
     (4) Nuclear generation is inherently carbon-free and consistently achieves higher capacity factors than any other class of generation resource, exceeding 92 percent on a fleet-wide basis, with certain advanced reactor designs capable of operating at full rated output 98 percent of the time;
      (4)  Nuclear generation is inherently carbon-free and consistently achieves higher capacity factors than any other class of generation resource, exceeding 92 percent on a fleet-wide basis, with certain advanced reactor designs 1potentially1 capable of operating at full rated output 98 percent of the time;
     (5) Nuclear facilities also achieve unmatched effective load-carrying capacity, reaching 98 percent in summer and 96 percent in winter, enabling them to deliver power to the grid reliably across all weather conditions and seasons;
      (5)  Nuclear facilities also achieve 1[unmatched] higher1 effective load-carrying capacity, reaching 1as high as1 98 percent in summer and 96 percent in winter, 1potentially1 enabling them to deliver power to the grid reliably across all weather conditions and seasons;
     (6) Nuclear generating stations maintain on-site fuel supplies that confer strong energy security, and their inherent operational characteristics allow continued service during severe weather events and other grid emergencies;
      (6)  Nuclear generating stations maintain on-site fuel supplies that confer strong energy security 1[, and their inherent operational characteristics allow continued service during severe weather events and other grid emergencies]1;
     (7) New Jersey’s nuclear generating capacity has contracted in recent years, most significantly following the 2018 retirement of the Oyster Creek Generating Station, which at the time of its closure was the oldest operating commercial nuclear reactor in the United States;
      (7)  New Jersey’s nuclear generating capacity has contracted in recent years, most significantly following the 2018 1economic1 retirement of the Oyster Creek Generating Station, which at the time of its closure was the oldest operating commercial nuclear reactor in the United States;
     (8) A new generation of advanced nuclear reactor designs is now entering commercial development, offering meaningful improvements over earlier designs in the areas of safety, thermal efficiency, waste generation, and overall environmental performance;
      (8)  A new generation of advanced nuclear reactor designs is now 1in the process of1 entering commercial development, offering meaningful improvements over earlier designs in the areas of safety, thermal efficiency, waste generation, and overall environmental performance;
     (9) Advanced nuclear generating facilities deliver firm, dispatchable, zero-carbon electricity that enhances grid stability, supports the integration of variable renewable resources, and produces sustained, high-paying employment alongside wide-ranging regional economic benefits;
      (9)  Advanced nuclear generating facilities 1have the potential to1 deliver firm, 1[dispatchable,]1 zero-carbon electricity that enhances grid stability, supports the integration of variable renewable resources, and produces sustained, high-paying employment alongside wide-ranging regional economic benefits;
     (10) The development and construction of an advanced nuclear energy project creates significant economic activity for the State, generating thousands of high-wage jobs during the construction and development phases and a substantial number of permanent, skilled-trade, and professional jobs over the facility’s operational life;
      (10)  The development and construction of an advanced nuclear energy project creates significant economic activity for the State, generating thousands of high-wage jobs during the construction and development phases and a substantial number of permanent, skilled-trade, and professional jobs over the facility’s operational life;
     (11) Advanced nuclear energy development creates meaningful opportunities for New Jersey-based businesses across manufacturing, engineering, fabrication, and related supply chain sectors, and the State is well-situated to cultivate a domestic nuclear supply chain network whose benefits would extend across multiple industries and workforce segments;
      (11)  Advanced nuclear energy development creates meaningful opportunities for New Jersey-based businesses across manufacturing, engineering, fabrication, and related supply chain sectors, and the State is well-situated to cultivate a domestic nuclear supply chain network 1[whose] with1 benefits 1that1 would extend across multiple industries and workforce segments;
     (12) Advanced nuclear energy facilities generate material and enduring tax revenues for the State and for the municipalities in which they are located or adjacent, thereby supporting local public services, infrastructure, and community development and providing long-term fiscal stability to host communities;
      (12)  Advanced nuclear energy facilities generate material and enduring tax revenues for the State and for the municipalities in which they are located or adjacent, thereby supporting local public services, infrastructure, and community development and providing long-term fiscal stability to host communities;
     (13) A dependable supply of clean, affordable nuclear power supports the State’s economic development objectives by making New Jersey a competitive destination for energy-intensive industries, including advanced manufacturing, life sciences, and technology companies, which require reliable, carbon-free electricity as a prerequisite to siting or expanding their operations;
      (13)  A dependable supply of 1[clean, affordable]1 nuclear power supports the State’s economic development objectives by making New Jersey a competitive destination for energy-intensive industries, including advanced manufacturing, life sciences, and technology companies, which require reliable, carbon-free electricity as a prerequisite to siting or expanding their operations;
and      (14) The environmental and public interest attributes of electric generation resources, among them the zero-carbon nature of nuclear generation, its contribution to long-term grid reliability and energy security, and its durable benefits to the health and welfare of New Jersey residents, hold independent value to the State and its people, value that is separate and distinct from the electricity those resources produce, and it is appropriate for the State to recognize, define, and actively support such attributes as a matter of State energy and environmental policy.
and       (14)  The environmental and public interest attributes of electric generation resources, 1[among them] including1 the zero-carbon nature of nuclear generation, its contribution to long-term grid reliability and energy security, and its durable benefits to the health and welfare of New Jersey residents, hold independent value to the State and its people 1[, value]1 that is separate and distinct from the electricity 1[those] that electric generation1 resources produce 1[, and it] .  As a result, it1 is appropriate for the State to recognize, define, and actively support 1[such] these1 attributes as a matter of State energy and environmental policy.
     b.  The Legislature therefore determines that it is in the public interest of all residents of New Jersey to actively promote and support the siting and construction of advanced nuclear reactors in the State as a source of carbon-free, reliable, and affordable electric power, and as a driver of sustained economic development, high-quality job creation, supply chain growth, and long-term fiscal strength for the State and its municipalities.
     b.  The Legislature therefore determines that 1when affordable1 it is in the public interest of 1[all residents of]1 New Jersey 1residents1 to actively promote and support the siting and construction of advanced nuclear reactors in the State as a source of carbon-free, reliable, and affordable electric power 1[,]1 and as a driver of sustained economic development, high-quality job creation, supply chain growth, and long-term fiscal strength for the State and its municipalities.
       3.  As used in this act:
     3.  As used in this act:
     (1) has significant improvements compared to reactors operating on December 27, 2020, including improvements such as:
     (1)  has significant improvements compared to reactors operating on December 27, 2020, including improvements such as:
or      (2) is of a design that has received design certification, design approval or a combined license from the Nuclear Regulatory Commission after January 1, 2000.
or      (2)  is of a design that has received design certification, design approval or a combined license from the Nuclear Regulatory Commission after January 1, 2000.
     “Aggregate output” means the trailing three-year average of aggregate megawatt-hours, or the average of all calendar years following the commercial operation date if fewer than three calendar years of post-commercial-operation data are available, made available to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate, by a qualified project and by any existing New Jersey nuclear reactors owned in whole or in part by the same entities as the qualified project, or by their parent companies.
     “Aggregate output” means the trailing three-year average of aggregate 1[megawatt-hours] megawatts of capacity, as defined in the PJM Open Access Transmission Tariff 1, or the average of all calendar years following the commercial operation date if fewer than three calendar years of post-commercial-operation data are available, made available to the PJM Reliability Pricing Model capacity market 1[or] , the1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate, by a qualified project and by any existing New Jersey nuclear reactors owned in whole or in part by the same entities as the qualified project1[,]1 or by their parent companies.
     “Direct power purchase agreement” means a bilateral contract between a qualified project and an end-use customer for the sale of electric energy, capacity, or associated attributes from the qualified project, under which the end-use customer receives delivery through the transmission or distribution system rather than through a co-location arrangement, and that results in the project’s generating capacity being made unavailable to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate.
     “Direct power purchase agreement” means a bilateral contract between a qualified project and an end-use customer for the sale of electric energy, capacity, or associated attributes from the qualified project, under which the end-use customer receives delivery through the transmission or distribution system rather than through a co-location arrangement, and that results in the project’s generating capacity being made unavailable to the PJM Reliability Pricing Model capacity market 1[or] ,1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate.
     “Effective load-carrying capability” or “ELCC” means the amount of additional electric load a resource can support while maintaining the same level of system reliability, calculated in accordance with the methodology used by PJM Interconnection, L.L.C., or its successor, for accreditation of generation and storage resources in the PJM capacity market.
     “Effective load-carrying capability” or “ELCC” means the amount of additional electric load a resource can support while maintaining the same level of system reliability, calculated in accordance with the methodology used by PJM Interconnection, L.L.C.
1[, or its successor,]1 for accreditation of generation and storage resources in the PJM capacity market.
     “Environmental attributes” means any and all aspects, characteristics, claims, credits, offsets, allowances, and benefits, whether or not separately tradeable, associated with the generation of electricity from a qualified project that reduce, avoid, or displace emissions of greenhouse gases or criteria air pollutants, together with the zero-carbon nature of the generation.
     “Environmental attributes” means any and all aspects, characteristics, claims, credits, offsets, allowances, and benefits, whether or not separately tradeable, associated with the generation of electricity from a qualified project that reduce, avoid, or displace emissions of greenhouse gases or criteria air pollutants, together with the zero-carbon nature of the generation.  “Environmental attributes” shall not include 1:1  (1) federal, State, or local tax credits or production credits;
 “Environmental attributes” shall not include (1) federal, State, or local tax credits or production credits;
     “Existing nuclear reactor baseline” means the aggregate amount of nuclear energy made available to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate, by existing New Jersey nuclear reactors owned in whole or in part by the same entity or entities as the proposed project, or by their parent companies, reflected as the average annual megawatt-hours of the existing nuclear reactors made available to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate, over the preceding three calendar years.
     “Existing nuclear reactor baseline” means the aggregate amount of nuclear energy made available to the PJM Reliability Pricing Model capacity market 1[or] , the1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate, by existing New Jersey nuclear reactors owned in whole or in part by the same entity or entities as the proposed project, or by their parent companies, reflected as the average annual 1[megawatt-hours] megawatts of capacity, as defined in the PJM Open Access Transmission Tariff,1 of the existing nuclear reactors made available to the PJM Reliability Pricing Model capacity market 1[or] , the1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate, over the preceding three calendar years.
     “Non-performance costs” means any costs, expenses, losses, or liabilities arising from:
     “Non-performance costs” means any costs, expenses, losses, or liabilities arising from:  (1) construction costs exceeding the verified total construction cost estimate;
 (1) construction costs exceeding the verified total construction cost estimate;
(2) failure to achieve commercial operation by the target commercial operation date set forth in the final board order 1issued pursuant to section 6 of this act1;
(2) failure to achieve commercial operation by the target commercial operation date set forth in the final board order;
     “Rated output” means the maximum sustained electric generating capacity of a qualified project, measured in megawatts at the generator terminals, as specified in the Nuclear Regulatory Commission operating license or combined license issued for the project.
     “Rated output” means the maximum sustained electric generating capacity of a qualified project, measured in megawatts at the generator terminals, as specified in the Nuclear Regulatory Commission operating license or combined license issued for the 1qualified1 project.
       4.  a.  The board shall establish a program, in accordance with the provisions of this act, to promote the construction of advanced nuclear energy projects in the State.
       4.  a.  The board shall establish a program, in accordance with the provisions of this act, to promote the construction of 1affordable1 advanced nuclear energy projects in the State.
     b.
     b.  No later than 180 days after the effective date of this act, the board, in consultation with the authority, shall issue a request for expressions of interest for the construction of advanced nuclear energy projects in the State.
 No later than 180 days after the effective date of this act, the board, in consultation with the authority, shall issue a request for expressions of interest for the construction of advanced nuclear energy projects in the State.
     (7) a Class IV cost estimate, presenting projected construction and operating costs as a reasoned range, together with the assumptions, methodology, and reference projects underlying the estimate, inclusive of budgeted risk and contingency value that is designed to reflect the unique risks associated with the development, construction, and operation of a nuclear generating facility;
     (7) a Class IV 1or better1 cost estimate, presenting projected construction and operating costs as a reasoned range, together with the assumptions, methodology, and reference projects underlying the estimate, inclusive of budgeted risk and contingency value that is designed to reflect the unique risks associated with the development, construction, and operation of a nuclear generating facility;
     (9) the rated output of the project per year in megawatt hours and the proposed amount of energy to be made available to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate, from the project per year in megawatt hours;
     (9) the 1[rated output of the project per year in] proposed annual volume of1 megawatt hours 1of energy to be delivered to the electrical grid serving the State1 and the proposed amount of 1[energy] megawatts of capacity, as defined in the PJM Open Access Transmission Tariff,1 to be made available to the PJM Reliability Pricing Model capacity market 1[or] , the1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate 1[, from the project per year in megawatt hours]1;
     (11) any proposed direct power purchase agreements, co-located end-use agreements, or other energy offtake agreements, together with a description of anticipated ratepayer benefits and any commitment by such parties to share in the capital costs and any potential cost overruns, and the role that such agreements play in financing the project;
     (11) any proposed direct power purchase agreements, co-located end-use agreements, or other energy offtake agreements, together with a description of anticipated ratepayer benefits and any commitment by 1[such] the1 parties to share in the capital costs and any potential cost overruns, and the role that 1[such] the1 agreements play in financing the project;
     (13) a projection of the anticipated monthly bill impact on ratepayers resulting from the proposed RCC price structure and schedule;
     (13) a projection of the anticipated monthly bill impact on ratepayers resulting from the proposed RCC price structure and schedule 1throughout the term of the proposal1;
     (15) a comprehensive economic impact and community benefit analysis addressing projected effects on employment, wages, household income, State and local tax revenue, regional economic activity, and infrastructure, including but not limited to:
     (15) a comprehensive economic impact and community benefit analysis addressing projected effects on employment, wages, household income, State and local tax revenue, regional economic activity, and infrastructure, including 1,1 but not limited to:
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     (b) a demonstration of a project financing gap, including an analysis of the projected internal rate of return with and without the proposed State support, and any identified federal support including tax incentives, to justify the financial necessity of the RCC price structure proposed pursuant to paragraph (12) of this subsection;
     (b) a demonstration of a project financing gap, including an analysis of the projected internal rate of return with and without the proposed State support, and any identified federal support 1,1 including tax incentives, to justify the financial necessity of the RCC price structure proposed pursuant to paragraph (12) of this subsection;
     (g) a proposed Community Benefits Agreement, or a detailed framework for negotiating such an agreement with the host municipality and local stakeholders;
     (g) a proposed Community Benefits Agreement 1[,]1 or a detailed framework for negotiating such an agreement with the host municipality and local stakeholders;
and      (h) an assessment of the project’s macroeconomic impact, specifically detailing its capacity to attract, support, or retain large-scale commercial and industrial ratepayer load, including, but not limited to, advanced manufacturing facilities and data centers;
and      (h) 1[an] a holistic economic1 assessment of the 1[project’s macroeconomic impact] project1, specifically detailing its capacity to attract, support, or retain large-scale commercial and industrial ratepayer load, including, but not limited to, advanced manufacturing facilities and data centers 1, and impacts on electric utility customer bills caused by the RCC1;
     (c) a description of the proposed project’s impact on local water resources (including cooling water usage and thermal discharge) and a plan for minimizing the physical footprint on sensitive habitats or preserved lands;
     (c) a description of the proposed project’s impact on local water resources 1[(] ,1 including cooling water usage and thermal discharge 1[)] ,1 and a plan for minimizing the physical footprint on sensitive habitats or preserved lands;
     d.  An expression of interest shall create no contractual obligation between the State and the applicant, and the board’s preliminary evaluation shall not commit the State to enter into a stipulation or to issue a final board order.       e.  The board shall undertake a preliminary evaluation of all proposed projects and provisionally qualify, or deny provisional qualification of, each proposed project no more than 90 days after receipt by the board of a complete expression of interest.  The board may grant provisional qualification to one or more proposed projects.  The board shall grant provisional qualification status upon a threshold finding that:
     d.  An expression of interest shall create no contractual obligation between the State and the applicant, and the board’s preliminary evaluation shall not commit the State to enter into a stipulation or to issue a final board order.       e.  The board shall undertake a preliminary evaluation of all proposed projects and provisionally qualify, or deny provisional qualification of, each proposed project no more than 90 days after receipt by the board of a complete expression of interest.  The board may grant provisional qualification to one or more proposed projects.  The board 1, in consultation with the Division of Rate Counsel, in, but not of, the Department of the Treasury, Department of Environmental Protection, and any other State agency the board deems appropriate,1 shall grant provisional qualification status upon a threshold finding that:
and      (2) the range of RCC values presented under paragraph (12) of subsection c.
1[and]1      (2) the range of RCC values presented under paragraph (12) of subsection c.
 The board’s finding under this paragraph shall not constrain its findings under section 6 of this act.
 The board’s finding under this paragraph shall not constrain its findings under section 6 of this act1;
     f.  If the board grants provisional qualification status to a proposed project, it shall issue a board order to that effect, which shall include an RCC price range corresponding to the range of construction costs in the Class IV estimate pursuant to this section and the megawatt output of the project eligible for RCCs.  If applicable, the board shall also establish the existing nuclear reactor baseline in its order designating provisional qualification.
and      (3) if the board considers granting provisional qualification to more than one project, the board shall evaluate the cumulative ratepayer impact of all such projects.
       5.  a.  Following a board order granting provisional qualification status to a proposed project, the board and the authority shall enter into negotiations with any provisionally qualified project concerning the RCC price and schedule, any real estate terms, agreements on supply chain guarantees, and any other terms and conditions the board and the authority deem necessary based on the information provided in the expression of interest.  The board and the authority may request and consider any additional information they find necessary in connection with their evaluation and negotiations.  Throughout the negotiation process, the authority and the board shall consult with the Department of Environmental Protection and other State agencies with applicable expertise.
 The board shall not grant provisional qualification to any additional project if doing so would cause the cumulative ratepayer impact to become unreasonable or excessive as determined under paragraph (4) of subsection a.
 The Division of Rate Counsel shall have, with respect to this section and sections 6 and 7 of this act, the right to receive all filings and submissions made to the board or the authority, to submit written comments and evidence, and to petition the board for reconsideration of any final board order.
of section 6 of this act1.
     f.  1In determining whether to grant provisional qualification status to one or more proposed projects, the board shall assess whether the projects with an energy offtake agreement include one or more of the following provisions:       (1) the energy buyer would agree to pay a per-megawatt-hour price greater than the RCC price set in the final board order issued under section 6 of this act and as may be adjusted pursuant to subsection e.
of section 6 of this act;
     (2) the energy buyer would share construction development risk that would otherwise be allocated to a qualified project entity as a non-performance cost;
     (3) the energy buyer either holds or agrees to hold an equity stake in the proposed project;
or      (4) otherwise provides benefits to ratepayers, as determined by the board.
     g.1  If the board grants provisional qualification status to a proposed project, it shall issue a board order to that effect, which shall include an RCC price range corresponding to the range of construction costs in the Class IV estimate pursuant to this section and the megawatt output of the project eligible for RCCs 1, and all other terms proposed by the project1.  If applicable, the board shall also establish the existing nuclear reactor baseline in its order designating provisional qualification.
       5.  a.  Following a board order granting provisional qualification status to a proposed project, the board and the authority shall enter into negotiations with any provisionally qualified project concerning the RCC price and schedule, any real estate terms, agreements on supply chain guarantees, and any other terms and conditions the board and the authority deem necessary based on the information provided in the expression of interest.  The board and the authority may request and consider any additional information they find necessary in connection with their evaluation and negotiations.  Throughout the negotiation process, the authority and the board shall consult with the Department of Environmental Protection and other State agencies with applicable expertise.  The Division of Rate Counsel 1, in, but not of, the Department of the Treasury,1 shall have, with respect to this section and sections 6 and 7 of this act, the right to receive all filings and submissions made to the board or the authority, to submit written comments and evidence, and to petition the board for reconsideration of any final board order.
Such stipulation shall include, but need not be limited to, the following terms:
1[Such] The1 stipulation shall include, but need not be limited to, the following terms:
     (8) the amount of nuclear energy that the qualified project shall make available to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate;
     (8) the amount of nuclear energy that the qualified project shall make available to the PJM Reliability Pricing Model capacity market 1[or] ,1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate;
 A qualified project entity shall not be required to pass along to ratepayers tax credits or other governmental benefits that exceed initial projections solely on account of higher-than-anticipated construction costs;       (11) an agreement that the qualified project entity shall implement all reasonable wildlife protection measures necessary to sustain the health and population of wildlife species present in and around the facility site, pursuant to all applicable State and federal requirements;
 A qualified project entity 1[shall not be required to pass along to ratepayers] may retain new, unanticipated1 tax credits or other governmental benefits 1[that exceed initial projections solely on account of higher-than-anticipated construction costs] in order to recover its administrative costs related to the qualified project.  In addition to the amount of new, unanticipated tax credits or other governmental benefits the qualified project entity retains to cover administrative costs, the qualified project entity may retain up to the lesser of 10 percent, or a different percentage, as negotiated in the stipulation, of any new, unanticipated tax credits or governmental benefits the qualified project entity receives, so long as the amount does not exceed an absolute cap on the allowable retention amount, as also negotiated in the stipulation1;       (11) an agreement that the qualified project entity shall implement all reasonable wildlife protection measures necessary to sustain the health and population of wildlife species present in and around the facility site, pursuant to all applicable State and federal requirements;
     c.  A stipulation entered into pursuant to this section shall represent the recommended terms of agreement among board staff, the authority’s chief executive officer, and a provisionally qualified project entity but shall not become effective or binding upon the qualified project entity, the State, or any other party unless and until the board issues a final order approving the stipulation pursuant to section 6 of this act.
     c.  1Once a stipulation is completed, the stipulation, including all terms, will be made public and the public shall have 30 days to submit comments on the stipulation.  During the public comment period, the board shall conduct a public hearing in the municipality that the provisionally qualified project is located.
     d.  Neither board staff nor the chief executive officer of the authority shall be required to obtain prior approval from the board members or from the authority’s board of directors to enter into a stipulation under this section.
     d.    Within 30 days of the close of the public comment period, board staff and the authority’s chief executive officer shall review all public comments and discuss potential amendments to the stipulation with the parties where appropriate.
 The stipulation shall be presented to the board, together with the board staff’s and authority chief executive officer’s recommendations, for the board’s consideration.
     e.1  A stipulation entered into pursuant to this section shall represent the recommended terms of agreement among board staff, the authority’s chief executive officer, and a provisionally qualified project entity but shall not become effective or binding upon the qualified project entity, the State, or any other party unless and until the board issues a final order approving the stipulation pursuant to section 6 of this act.
     e.  If board staff, the authority’s chief executive officer, and a provisionally qualified project entity do not enter into a stipulation within 12 months of the grant of provisional qualification status, that status shall automatically lapse and the project shall cease to be a provisionally qualified project, unless board staff, the authority’s chief executive officer, and the project entity consent in writing to extend the negotiating period for one or more additional periods of not more than six months each.
     1[d.] f.1  Neither board staff nor the chief executive officer of the authority shall be required to obtain prior approval from the board members or from the authority’s board of directors to enter into a stipulation under this section.
     f.  Notwithstanding any procurement threshold established under R.S.52:25-23, any circular issued pursuant thereto by the Division of Purchase and Property in the Department of the Treasury, or any board-specific procurement threshold, the board or the authority may engage consulting services on a non-advertised basis using the procedures authorized by R.S.52:25-23 and set forth by the Director of the Division of Purchase and Property in Circular No.
 The stipulation 1, along with a cost benefit analysis of the stipulation,1 shall be presented to the board, together with the board staff’s and 1[authority] the authority’s1 chief executive officer’s recommendations, for the board’s consideration.
26-02-DPP to assist in carrying out its duties under this act.  Any such engagement shall not be applied against the board’s or the authority’s delegated procurement authority threshold.
     1[e.] g.1  If board staff, the authority’s chief executive officer, and a provisionally qualified project entity do not enter into a stipulation within 12 months of the grant of provisional qualification status, that status shall automatically lapse and the project shall cease to be a provisionally qualified project, unless board staff, the authority’s chief executive officer, and the project entity consent in writing to extend the negotiating period for one or more additional periods of not more than six months each.
       6.  a.  No later than 90 days after receiving a stipulation pursuant to subsection d.
     1[f.] h.1  Notwithstanding any procurement threshold established under R.S.52:25-23, any circular issued pursuant thereto by the Division of Purchase and Property in the Department of the Treasury, or any board-specific procurement threshold, the board or the authority may engage consulting services on a non-advertised basis using the procedures authorized by R.S.52:25-23 and set forth by the Director of the Division of Purchase and Property in Circular No.
of section 5 of this act, the board, after consultation with the Division of Rate Counsel and after providing public notice of the proposed order and an opportunity for written comment by interested members of the public for a period of 30 days, shall issue an order approving the project, provided the board finds that the stipulation terms ensure each of the following conditions:
26-02-DPP to assist in carrying out its duties under this act.  Any such engagement shall not be applied against the board’s or the authority’s delegated procurement authority threshold.  1The requirements of subsection a.
of section 1 of P.L.2005, c.92 (C.52:34-13.2) shall not apply to any consulting engagement entered into under this section, provided that any such engagement shall comply with all applicable federal export control laws, rules, and regulations.1        6.  a.  No later than 90 days after receiving a stipulation pursuant to subsection 1[d.] e.1 of section 5 of this act, the board, after consultation with the Division of Rate Counsel1, in, but not of, the Department of the Treasury,1 and after providing public notice of the proposed order and an opportunity for written comment by interested members of the public for a period of 30 days, shall issue an order approving the project, provided the board finds that the stipulation terms ensure each of the following conditions:
     (5) the baseline threshold results in a net increase in nuclear energy made available to the PJM Reliability Pricing Model capacity market or Fixed Resource Requirement, as appropriate, equal to greater than 50 percent of the project’s rated output;
     (5) the baseline threshold results in a net increase in nuclear energy made available to the PJM Reliability Pricing Model capacity market 1[or] , the1 Fixed Resource Requirement, 1or any other procurement program operated by PJM,1 as appropriate, equal to greater than 50 percent of the project’s rated output;
and      (6) any additional criteria established as part of the board’s order granting provisional qualification pursuant to subsection f.
1[and]1      (6) 1there is a net benefit to ratepayers;
of section 4 of this act have been met.
     (7) any energy offtake agreement shall not provide a per megawatt-hour price for electricity lower than the RCC price set in the final board order, as may be adjusted pursuant to subsection e.
of section 6 of this act, unless the energy buyer has contributed equity capital or will assume construction risk for the proposed project such that the energy buyer’s total cost contribution per megawatt-hour of contracted output, calculated over the term of the RCC, equals or exceeds the RCC price, including any board authorized adjustment;
and      (8)1 any additional criteria established as part of the board’s order granting provisional qualification pursuant to subsection 1[f.] g.1  of section 4 of this act have been met.
     (1) projected electrical output and anticipated market prices over the anticipated life of the project, including a forecast of electricity revenues from the sale of energy to the grid and capacity derived from the project;
     (1)  projected electrical output and anticipated market prices over the anticipated life of the project, including a forecast of electricity revenues from the sale of energy to the grid and capacity derived from the project;
     (2) anticipated revenues from RCC sales;
     (2)  anticipated revenues from RCC sales;
     (3) the projected return of market revenues to New Jersey ratepayers over the RCC term, including any merchant exposure assumed by the project developer or profit sharing if market revenues exceed a specified level;
     (3)  the projected return of market revenues to New Jersey ratepayers over the RCC term, including any merchant exposure assumed by the project developer or profit sharing if market revenues exceed a specified level;
     (4) the verified total construction cost estimate;
     (4)  the verified total construction cost estimate;
     (5) additional project funding and financing sources, including any energy offtake or co-location arrangement;
     (5)  additional project funding and financing sources, including any energy offtake or co-location arrangement;
     (6) the net cost impact on New Jersey electric customers;
     (6)  the net cost impact on New Jersey electric customers;
and      (7) the proposed commercial operation date.
and      (7)  the proposed commercial operation date.
     c.  If the board does not find that the conditions of this section are satisfied, the board shall issue an order setting forth the basis for its determination.
     c.  1If the board is considering more than one qualified project, the board shall consider the ratepayer impact of the qualified projects in totality, and even if each qualified project independently may result in affordable rates to ratepayers, if the cumulative impact of more than one qualified project is unaffordable to ratepayers, the board shall not approve of a subsequent project.
 Within 60 days of the order, board staff, the chief executive officer of the authority, and the qualified project entity may submit a revised stipulation addressing the board’s concerns, which the board shall consider under the same standards set forth in this section.
     d.1  If the board does not find that the conditions of this section are satisfied, the board shall issue an order setting forth the basis for its determination.
 The provisional qualification status of the project shall remain in effect during the renegotiation period, notwithstanding the time limits in subsection e.
 Within days of the order, board staff, the chief executive officer of the authority, and the qualified project entity may submit a revised stipulation addressing the board’s concerns, which the board shall consider under the same standards set forth in this section1, including all public notice requirements1.
of section 5 of this act.
 The provisional qualification status of the project shall remain in effect during the renegotiation period, notwithstanding the time limits in subsection 1[e.] g.1 of section 5 of this act.
     d.  A qualified project entity may petition the board for modification of the final board order, including to seek an increase of verified total construction costs or due to a change in State law or regulation.  The board may, upon consent of the authority’s chief executive officer, grant such a petition upon finding that the requested modification is necessary to preserve the project’s continued financial viability, will not impose an unreasonable burden on ratepayers, and that the project entity will maintain the project’s economic development and workforce commitments.
     1[d.] e.1  A qualified project entity may petition the board for modification of the final board order, including to seek an increase of verified total construction costs or due to a change in State law or regulation.  The board may, upon consent of the authority’s chief executive officer, 1after consultation with the Division of Rate Counsel, in, but not of, the Department of the Treasury, and an opportunity for the public to be heard,1 grant such a petition upon finding that the requested modification 1was reasonably unforeseeable,1 is necessary to preserve the project’s continued financial viability, will not impose an unreasonable burden on ratepayers, and that the project entity will maintain the project’s economic development and workforce commitments.  Any proposed modification that would increase the RCC price, extend the RCC term, reduce the share of market revenues returned to ratepayers, or otherwise materially increase the net cost to ratepayers shall additionally require:
 Any proposed modification that would increase the RCC price, extend the RCC term, reduce the share of market revenues returned to ratepayers, or otherwise materially increase the net cost to ratepayers shall additionally require:
and (2) an express finding by the board, supported by substantial evidence, that the modification is necessary and in the public interest.  For the purposes of this subsection, “change in State law or regulation” means any change that imposes a moratorium on the construction or operation of the qualified project;
and (2) an express finding by the board, supported by substantial evidence, that the modification is necessary and in the public interest 1and that there is still a net benefit to ratepayers1.  For the purposes of this subsection, “change in State law or regulation” means any change that imposes a moratorium on the construction or operation of the qualified project;
or imposes regulatory requirements that, considered together, significantly increase the total construction cost of the qualified project, as projected at the time of the change in law, provided that the qualified project entity has attempted to mitigate the effects of the change in law to the maximum extent reasonably practicable.       e.  Before entering into any agreement after preliminary qualification to sell electricity to a co-located energy user or to any end user through a direct power purchase agreement, the qualified project entity shall obtain board approval.  Approval of any such agreement shall include a requirement that some percentage of revenues of any direct power purchase agreement be returned to ratepayers pursuant to paragraph (2) of subsection d.
or imposes regulatory requirements that, considered together, significantly increase the total construction cost of the qualified project, as projected at the time of the change in law, provided that the qualified project entity has attempted to mitigate the effects of the change in law to the maximum extent reasonably practicable.       1[e.] f.1  Before entering into any agreement after preliminary qualification to sell electricity to a co-located energy user or to any end user through a direct power purchase agreement, the qualified project entity shall obtain board approval.  Approval of any such agreement shall include a requirement that some percentage of revenues of any direct power purchase agreement be returned to ratepayers pursuant to paragraph (2) of subsection d.
     f.  A board order issued pursuant to this section shall not be subject to change except with the joint consent of the board, the chief executive officer of the authority, and the qualified project entity.
     1[f.] g.1  A board order issued pursuant to this section shall not be subject to change 1[except with] without1 the joint consent of the board, the chief executive officer of the authority, and the qualified project entity.
       7.  a.  No later than 18 months after first issuing a board order memorializing qualified project terms pursuant to section 6 of this act, the board shall establish, by adopting rules and regulations, a Reliable Capacity Certificate program to require that a proportional number of the megawatt hours sold in this State by each electric power supplier and each basic generation service provider be from nuclear energy generated by qualified projects.  The RCC program shall be designed to support at least 1,100 megawatts of electric generation from qualified projects.  Each obligated entity’s required nuclear energy share shall correspond to the projected RCC output of each designated qualified project, over a term of not more than 40 years as approved by the board, commencing on the commercial operation date of the qualified project.  The 1,100 megawatt figure stated in this subsection shall constitute a program design parameter and shall not constitute a commitment by the State to procure any specific quantity of generation.
       7.  a.  No later than 18 months after first issuing a board order memorializing qualified project terms pursuant to section 6 of this act, the board shall establish, by adopting rules and regulations, a Reliable Capacity Certificate program to require that a proportional number of the megawatt hours sold in this State by each electric power supplier and each basic generation service provider be from nuclear energy generated by qualified projects.  The RCC program shall be designed to support at least 1,100 megawatts of 1[electric generation] capacity, as defined in the PJM Open Access Transmission Tariff,1 from qualified projects.  Each obligated entity’s required nuclear energy share shall correspond to the projected RCC output of each designated qualified project, over a term of not more than 40 years as approved by the board, commencing on the commercial operation date of the qualified project.  The 1,100 megawatt figure stated in this subsection shall constitute a program design parameter and shall not constitute a commitment by the State to procure any specific quantity of generation.
     b.  (1) A qualified project shall earn one RCC for each megawatt-hour of electricity it generates.  If a qualified project executes an agreement to sell more than 1 percent of its total generation to any single co-located energy user or through a direct power purchase agreement with an end user, the megawatt-hours sold pursuant to such agreement shall not be eligible for RCC credit.
     b.  (1) A qualified project shall earn one RCC for each megawatt-hour of electricity it generates.  If a qualified project executes an agreement to sell more than 1[1] one1 percent of its total generation to any single co-located energy user or through a direct power purchase agreement with an end user, the megawatt-hours sold pursuant to 1[such] the1 agreement shall not be eligible for RCC credit.
     d.  (1) Revenues earned by a qualified project from sales of energy, capacity, or ancillary services in PJM during the RCC program term shall be returned to New Jersey ratepayers as set forth in a final board order issued pursuant to section 6 of this act.
     d.  (1) Revenues earned by a qualified project from sales of energy, capacity, or ancillary services in PJM during the RCC program term shall be returned 1to the electric power supplier or basic generation service provider, as appropriate, no later than 60 days from the receipt of such revenues and the electric power supplier or basic generation service provider shall have no more than 90 days to return those revenues1 to New Jersey ratepayers as set forth in a final board order issued pursuant to section 6 of this act.
     (2) A share of revenues, as agreed between the authority, the board, and the qualified project, derived from a direct power purchase agreement with an end user that neither contributed to construction financing, nor was addressed in the final board order, shall be returned to ratepayers.
     (2) A share of revenues, as agreed between the authority, the board, and the qualified project, derived from a direct power purchase agreement with an end user that neither contributed to construction financing, nor was addressed in the final board order, shall be returned 1to the electric power supplier or basic generation service provider, as appropriate, no later than 60 days from the receipt of such revenues and the electric power supplier or basic generation service provider shall have no more than 90 days to return those revenues1 to ratepayers.
       8.  The financial and other information submitted to the board and authority pursuant to sections 4, 5, and of this this act may be submitted on a confidential basis and shall be treated and maintained as confidential by the board and the authority and shall not be subject to public disclosure, notwithstanding any law to the contrary, including the common law.
     1e.  A qualified project shall not be eligible to receive an RCC for a megawatt hour of electricity generation if the qualified project also receives a zero-emission certificate pursuant to section 3 of P.L.2018, c.16 (C.48:3-87.5) for that megawatt hour of electricity generation.1        8.  The financial and other information submitted to the board and authority pursuant to sections 4, 5, and of 1[this]1 this act may be submitted on a confidential basis and shall be 1[treated and maintained as confidential by the board and the authority and shall not be subject to public disclosure, notwithstanding any law to the contrary, including the common law] subject to the confidentiality procedures set forth pursuant to N.J.A.C.14:1-12.1 et seq., or any successor regulation, and section 1 of P.L.1982, c.222 (C.48:2-16.4), including the procedures for designating, challenging, and reviewing claims of confidentiality.  The Division of Rate Counsel, in, but not of, the Department of the Treasury, or PJM’s independent market monitor may enter into nondisclosure agreements with the board, the authority, or a qualified project entity, as applicable, to receive information designated as confidential pursuant to this section for purposes of performing their respective oversight and market monitoring functions.  Nothing in this section shall be construed to limit the right of the Division of Rate Counsel to access information pursuant to section 5 of this act or the application of P.L.1963, c.73 (C.47:1A-1 et seq.) for information that is not properly designated and maintained under the applicable confidentiality procedures1.
    STATEMENT        This bill, to be known as the “Powering Opportunity, Workforce, and Energy Reliability for New Jersey Act” or “Power NJ Act,” would direct the Board of Public Utilities (BPU), in collaboration with the New Jersey Economic Development Authority (EDA) to establish a program to procure advanced nuclear energy facilities in the State.
     The bill would direct the BPU to issue a request for expressions of interest within 180 days of the bill’s enactment.  Entities that are interested in participating in the program would then have 60 days to submit an expression of interest.  The bill would establish certain minimum content requirements for an expression of interest, including that it contain a letter of intent filed with the United States Nuclear Regulatory Commission (NRC) and a proposed licensing pathway under the NRC.
     The BPU would then have 90 days to review an expression of interest and would be authorized to grant provisional qualification status to those projects that sufficiently meet the BPU’s criteria, are reasonably likely to significantly contribute to meeting the State’s energy reliability, resilience, and capacity needs, and provide a net benefit to ratepayers.  The BPU would then negotiate and enter into a stipulation concerning the operation date of the facility, the construction cost of the facility, Reliability Capacity Certificate (RCC) value and payment schedule, and additional items enumerated in the bill.  The RCC would be a certificate, issued by the BPU or its designee, representing the environmental attributes of one megawatt hour of electric generation from an advanced nuclear energy project that participates in the program.  The bill would direct the BPU to require electric public utilities to purchase a certain number of RCCs each year in order to provide revenue to advanced nuclear energy projects.  Under the program, some or all revenues earned by an advanced nuclear energy facility from the sale of energy, capacity, or ancillary services would be returned to New Jersey ratepayers.
     After entering into a stipulation with a provisionally qualified project, the BPU would be authorized to issue a final board order approving the project.  The bill would require the BPU to ensure that each approved project meets certain conditions, including that the entity proposing the project demonstrates financial integrity and sufficient access to capital.  The bill would require the BPU to consider certain items when evaluating the reasonableness of a proposed RCC price and schedule.  The bill would also require the BPU to review and approve any proposal for a participating advanced nuclear energy project to sell electricity to a co-located energy user or to any end user through a direct power purchase agreement.
     Finally, the bill would authorize the BPU to adopt rules and regulations that are effective immediately upon filing with the Office of Administrative Law, in order to implement the bill’s provisions.  These rule and regulations could remain effective for 18 months, after which the BPU would be required to readopt them in accordance with the procedures of the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.).
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Sponsors

Sponsorship breakdown

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3 sponsors · 4 co-sponsors · 113 not signed on

Sponsors (3)

Co-sponsors (4)

Not signed on (113)

113 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Committee vote — SBA

Passed 13 Yea · 0 Nay
Party YeaNayPresentNot Voting
Democrat 9000
Republican 4000
Total 13000
% of votes cast 100%0%0%0%
How each member voted (13)
Member Party Vote
Burgess, Renee C. Democrat Yea
Burzichelli, John J. Democrat Yea
Cruz-Perez, Nilsa I. Democrat Yea
Diegnan Jr., Patrick J. Democrat Yea
Greenstein, Linda R. Democrat Yea
Johnson, Gordon M. Democrat Yea
Ruiz, M. Teresa Democrat Yea
Sarlo, Paul A. Democrat Yea
Zwicker, Andrew Democrat Yea
Amato Jr., Carmen F. Republican Yea
O'Scanlon Jr., Declan J. Republican Yea
Steinhardt, Douglas J. Republican Yea
Testa Jr., Michael L. Republican Yea

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energy
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Frequently asked questions

What does S 4296 do?
Power NJ Act-estab advanced nuclear energy procurement program in BPU
Who sponsors S 4296?
S 4296 is sponsored by Amato Jr., Carmen F. (Republican), Singleton, Troy (Democrat), Tiver, Latham (Republican), Diegnan Jr., Patrick J. (Democrat), Scutari, Nicholas P. (Democrat), Smith, Bob (Democrat), and Burzichelli, John J. (Democrat).
What is the current status of S 4296?
This bill has been introduced in the Senate. Introduced May 14, 2026. It must pass committee before a floor vote.
Where can I track S 4296?
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