SENATE ENVIRONMENT AND ENERGY COMMITTEE

STATEMENT TO

SENATE, No. 2862

with committee amendments

STATE OF NEW JERSEY

DATED:  MAY 22, 2025

      The Senate Environment and Energy Committee reports favorably and with committee amendments Senate Bill No. 2862.

      This bill, as amended by the committee, requires the Board of Public Utilities (BPU) to develop and implement a program to promote women-owned, minority-owned, veteran-owned, and lesbian, gay, bisexual, transgender, or questioning (LGBTQ)-owned energy businesses in the State.

      The bill authorizes the program to include public information campaigns, marketing, advertising, the provision of incentives, or other means and methods determined appropriate by the BPU.  The bill establishes certain target percentages for the energy procured by businesses and public entities that utilize electric power or gas suppliers.  These target percentages are to culminate, in the fourth energy year after the program is established and thereafter, with the goal that 25 percent of the energy procured by businesses and public entities that utilize board-licensed energy agents, energy consultants, or private energy aggregators be sourced utilizing a women-owned, minority-owned, veteran-owned, or LGBTQ-owned energy business.

      The bill establishes certain requirements for determining which businesses qualify for the program and directs the BPU to develop an application process for businesses that seek to participate in the program.  Finally, the bill requires the BPU and electric and gas public utilities in the State to post a list of approved energy businesses on their Internet websites and requires the BPU to track the progress of the program in meeting the targets established by the bill and to post updates on the BPU’s Internet website.

      As amended and reported by the committee, Senate Bill No. 2862 is identical to Assembly Bill No. 3781 (1R), which was also reported by the committee on this date.

COMMITTEE AMENDMENTS:

      The committee amendments to the bill:

      (1)  include within the term “energy business,” for purposes of the bill, a board-licensed energy agent, energy consultant, or private energy aggregator;

      (2)  provide that the target percentages for the program are to be measured in the context of the energy procured by businesses and public entities that utilize board-licensed energy agents, energy consultants, or private energy aggregators; and

      (3)  make technical changes to the bill.