Bill to Expand NJ's Energy Supply Signed into Law

DeAngelo, Bailey, Karabinchak legislation will provide New Jerseyans with significant savings while building energy infrastructure for the future

(TRENTON) — Assemblyman Wayne DeAngelo's Bill A4881 was signed into law today, marking the latest step in Assembly Democrats' efforts to deliver on affordability by pushing for stronger, more streamlined solutions. Assemblymen Dave Bailey and Robert Karabinchak also sponsored the legislation, known as the “Powering Opportunity, Workforce, and Energy Reliability for New Jersey Act” or “Power NJ Act.” 

“During my time in the Assembly, I have focused on finding solutions that expand our energy supply while keeping costs down for ratepayers. To me, these are not two competing goals, they go hand in hand,” said Assemblyman DeAngelo (D-Mercer, Middlesex). “The Power NJ Act does exactly that. By establishing a clear pathway to procure advanced nuclear energy facilities, we can make smart, long-term investments in reliable, clean power for New Jersey that can support good-paying jobs.”

Bill A4881 will direct the New Jersey Board of Public Utilities in collaboration with the New Jersey Economic Development Authority, to establish a program to procure advanced nuclear energy facilities in the State. The legislation will also 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 energy demands increase, we need to build more affordable power here in New Jersey,” said Assemblyman Bailey (D-Gloucester, Salem, Cumberland). “I grew up in the shadow of our nuclear plants in Salem County, and have seen firsthand the positive impact nuclear has on economic growth, job opportunities, and grid reliability. A4881 is an investment in driving down the cost of electricity and a commitment to meeting our energy needs for decades to come.” 

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 consistent with the State’s clean energy goals, and provide a net benefit for ratepayers when compared to alternative energy means. If projects do not represent a good deal, BPU would be under no obligation to commit to any projects. 

“Investing in nuclear energy development now demonstrates our leadership and commitment to providing clean, reliable, and affordable energy,” said Assemblyman Karabinchak (D-Middlesex). “As energy demand grows in our state, it is imperative that we commit to policies such as the Power NJ Act that directly increase our energy supply. This bill will strengthen our communities by investing in top-of-the-line infrastructure that supports New Jersey’s energy needs, while protecting ratepayers from high utility costs and creating workforce opportunities.”