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.

This bill requires all electric power sold to customers in New Jersey by electric power suppliers and basic generation service providers to come from zero-carbon sources by energy year 2050. It directs the Board of Public Utilities, in consultation with the Department of Environmental Protection, to establish a multi-year schedule for gradually reducing carbon emissions in the power sector. The standard would include provisions to prevent "leakage" (where emissions might simply move to other jurisdictions) and would exempt existing contracts for basic generation service. This requirement would affect all electricity providers in New Jersey, mandating a transition to zero-carbon energy sources over time.