Establishes alternative compliance payment to satisfy Class II renewable energy requirements.

This bill creates an alternative payment option for electric power suppliers to meet New Jersey's Class II renewable energy requirements. Instead of generating or purchasing renewable energy, suppliers can pay a set fee per megawatt-hour (MWh) to the New Jersey Board of Public Utilities. The payment amount is defined in the bill as a specific dollar figure per MWh, providing a financial compliance mechanism for utilities. This directly affects electric power suppliers who must meet renewable energy mandates under existing law. The bill does not change the renewable energy targets but offers a new compliance pathway.