SENATE ECONOMIC GROWTH COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5463

with committee amendments

STATE OF NEW JERSEY

DATED: JUNE 12, 2025

      The Senate Economic Growth Committee reports favorably and with committee amendments Assembly Bill No. 5463.

      As amended and reported, this bill requires electric public utilities to file an annual report on recorded votes at meetings of PJM Interconnection, L.L.C. (PJM) to the Board of Public Utilities (board).

      Pursuant to the bill, an electric public utility is required to file a report no later than February 1 of each year, in a form and manner to be specified by the board.  The report is required to:  (1) list each recorded vote cast by the electric public utility, and by any affiliate of the utility, at a meeting of PJM during the immediately preceding calendar year, regardless of whether the vote is disclosed by PJM; (2) include a brief description of what transpired at the meeting, including the purpose of the meeting, the meeting agenda, if any, and what role the electric public utility, or its affiliate, played at the meeting; and (3) include a brief description explaining whether each vote that was cast furthers the State’s goals of prioritizing the affordability, reliability, and sustainability of electricity production, consumption, and conservation.  The board is required to submit copies of the filed reports as well as an annual report summarizing the information received from each electric public utility to the Governor and to the Legislature.

      Under the bill, “meeting” is defined to include a meeting of any committee, user group, task force, or other similar body of PJM.  A “recorded vote” is defined as a vote that is tabulated, either individually or as part of an industry sector, for any purpose at a meeting, regardless of whether:  (1) the vote represents a final position of the entity casting the vote; or (2) the entity casting the vote possesses decision-making authority.  “Recorded vote” also includes proposals that were endorsed by acclamation when the electric public utility was in attendance.

      As amended and reported by the committee, Assembly Bill No. 5463 is identical to Senate Bill No. 4363, which was also amended and reported by the committee on this date.

COMMITTEE AMENDMENTS:

      The committee amended the bill to require the board to provide to the Governor and to the Legislature, in addition to the annual report, copies of the reports filed with the board by each electric public utility.