ASSEMBLY TELECOMMUNICATIONS AND UTILITIES COMMITTEE

STATEMENT TO

ASSEMBLY, No. 3967

with committee amendments

STATE OF NEW JERSEY

DATED:  MARCH 13, 2026

      The Assembly Telecommunications and Utilities Committee reports favorably and with committee amendments Assembly Bill No. 3967.

      As amended and reported, this bill requires the Board of Public Utilities (board) to work collaboratively with neighboring states to research and recommend collective action to:  (1) require any electric load serving entity in New Jersey to demonstrate to the board that it has contracted for at least 80 percent of the capacity needed to serve its load on a bilateral basis for at least five years into the future; (2) withdraw from PJM Interconnection, L.L.C.’s (PJM) capacity market and develop a multi-state compact to engage in the fixed resource requirement alternative to secure electric capacity through contracts with private entities, competitive capacity auctions, or some combination thereof; or (3) withdraw from the regional, high-voltage electric transmission grid operated and managed by PJM and, instead, either establish an independent electric transmission grid or join an existing electric transmission grid.

      This bill was prefiled for introduction in the 2026-2027 session pending technical review.  As reported, the bill includes the changes required by technical review, which has been performed.

COMMITTEE AMENDMENTS:

      The committee amended the bill to: 

      (1)  require the board to submit a report with its findings and recommendations from the board’s research with neighboring states under the bill to the Governor and the Legislature within one year of the bill’s effective date rather than by December 31, 2025; and

      (2)  make technical changes.