New Jersey Assembly Bill A3079

New Jersey 2022-2023 Regular Session

• Introduced: 2/28/22
• Refer: 2/28/22

Caption

Requires, by energy year 2050, all electric power sold in NJ by each electric power supplier and basic generation service provider to be from zero-carbon sources.

Impact

The passage of A3079 could lead to significant changes in state energy policy and operations, specifically impacting how electric power suppliers generate and sell energy. The bill requires the Board of Public Utilities (BPU), along with the Department of Environmental Protection (DEP), to implement a multi-year emissions reduction schedule that will gradually enforce these zero-carbon standards within the electric generation sector. This move is expected to reshape the energy landscape in New Jersey, potentially creating a more stable market for renewable energy technologies and investments in green infrastructure.

Summary

The bill A3079, introduced in New Jersey, mandates that by energy year 2050, all electric power sold in the state by each electric power supplier and basic generation service provider must come from zero-carbon sources. This legislation aims to establish a comprehensive carbon emissions portfolio standard to significantly reduce reliance on fossil fuels, thereby promoting renewable energy sources and tackling climate change. The bill emphasizes the importance of transitioning to sustainable energy while ensuring that ratepayers are credited for any financial benefits realized from these changes, especially regarding projects owned by electric public utilities.

Contention

While the bill is positioned as a progressive step toward reducing the state’s carbon footprint and fostering a healthier environment, it does raise concerns among certain stakeholders about the feasibility of such a rapid transition. Critics of the bill may argue that the mandated timeline could impose heavy burdens on current power suppliers and may affect energy prices for consumers if not managed carefully. Additionally, the complexity of implementing such standards could lead to logistical challenges and resistance from established energy providers who may be unprepared for the drastic shift toward zero-carbon infrastructures.