New Jersey S4736 mandates the Board of Public Utilities to use offshore wind project escrow funds for incentivizing non-intermittent energy.
New Jersey S4736 requires the state to allocate uncommitted funds from a May 2024 settlement agreement with Orsted for canceled offshore wind projects to the Board of Public Utilities. These funds must be used to incentivize non-intermittent energy generation, including nuclear energy, aiming to address rising energy costs and affordability issues for New Jersey families. The Board of Public Utilities will implement this through rules and regulations under the Administrative Procedure Act.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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