Requires electric transmission owners to join transmission entities.

This bill requires electric utilities owning transmission facilities in New Jersey to join and transfer control of those facilities to federally approved regional transmission organizations (like independent system operators). It directly affects electric utilities operating transmission infrastructure within the state, mandating they comply with specific standards for these entities. Key provisions include preventing "rate pancaking" (multiple duplicate fees for electricity delivery), ensuring transmission control is separate from power generation, improving grid reliability, and requiring independent governance. The bill takes effect immediately upon passage, with the Board of Public Utilities authorized to implement necessary rules.