New Jersey A4625 requires the Board of Public Utilities to allow bidding for one, two, and three-year supply periods in basic generation service.
New Jersey A4625 mandates the New Jersey Board of Public Utilities to permit bidding for one, two, and three-year supply periods in basic generation service auctions for Residential Small Commercial Pricing customers. The bill aims to potentially lower utility costs by allowing shorter supply periods, as seen in similar auctions in other states. The board must select the most price competitive bids, excluding those for Commercial and Industrial Energy Pricing class customers. The act takes effect immediately.
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