"New Jersey Energy Security & Affordability Act"; permits electric public utilities to own, operate, develop, or otherwise procure generation in certain circumstances.

This bill, titled the New Jersey Energy Security & Affordability Act, allows electric public utilities in New Jersey to own, develop, or operate specific in-state power generation resources under strict oversight. The legislation defines these resources as strategic assets, such as energy storage or dispatchable facilities, that address reliability needs not currently met by the competitive wholesale market. To protect consumers, the bill mandates that any costs passed to ratepayers must be transparent, based on prudent costs, and subject to approval by the Board of Public Utilities. While granting utilities this limited authority to improve grid stability, the act explicitly preserves the state's broader competitive electricity market framework.