N.J.S.A. 48:3-121.4 — BPU to initiate proceeding, determining extension of transmission-scale energy storage procurement; report to Governor, Legislature.

48:3-121.4 BPU to initiate proceeding, determining extension of transmission-scale energy storage procurement; report to Governor, Legislature. 3. a. Within 30 days of meeting its 1,000 MW AC procurement goal established pursuant to paragraph (2) of subsection a. of section 2 of P.L.2025, c.136 (C.48:3-121.3), the board shall initiate a proceeding, with opportunity for public comment, to determine whether to extend its procurement of transmission-scale energy storage through the energy storage program established pursuant to P.L.2025, c.136 (C.48:3-121.2 et al.). b. The board shall issue a report detailing its findings based on the proceeding initiated pursuant to subsection a. of this section and submit the report to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature. In its report issued pursuant to this subsection, the board shall: (1) examine the impact of the State�s energy storage programs, individually and collectively, on the State�s progress toward the 2030 energy storage target established pursuant to section 1 of P.L.2018, c.17 (C.48:3-87.8); (2) assess the impact of the energy storage program established pursuant to P.L.2025, c.136 (C.48:3-121.2 et al.) on ratepayers, which impact shall include an evaluation of any costs and benefits to ratepayers as a result of increased energy storage capacity under the program; (3) evaluate any changes in the PJM capacity market or in the federal energy and utility landscape that could impact the need for incentive awards issued through the energy storage program established pursuant to P.L.2025, c.136 (C.48:3-121.2 et al.); (4) study any other information the board deems necessary to make its determination pursuant to paragraph (5) of this subsection; and (5) determine, at the discretion of the board, whether to extend the procurement of transmission-scale energy storage pursuant to P.L.2025, c.136 (C.48:3-121.2 et al.) through subsequent tranches based on its findings from paragraphs (1) through (4) of this subsection. L.2025, c.136, s.3.

This is the verbatim text of N.J.S.A. 48:3-121.4, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.