ASSEMBLY TELECOMMUNICATIONS AND UTILITIES COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4959

STATE OF NEW JERSEY

DATED:  MAY 28, 2026

      The Assembly Telecommunications and Utilities Committee reports favorably Assembly Bill No. 4959.

      As reported, this bill, which is designated as the “Affordable Power Purchase Agreements Extension Act,” amends current law regarding renewable energy power purchase agreements (energy contracts).  Under current law, certain public entities are authorized to enter into energy contracts for a term not to exceed 15 years.  The bill authorizes certain public entities to extend, without public advertising for bids and bidding, existing energy contracts for a term not to exceed 30 years in the aggregate.