Requires offshore wind project escrow funds to be remitted to BPU for certain ratepayer relief.

S 3667 requires New Jersey to transfer unspent funds from a 2024 settlement agreement with Orsted (a company linked to canceled offshore wind projects) to the Board of Public Utilities (BPU). The BPU must use these funds to provide direct ratepayer relief to customers of electric public utilities. The bill mandates the BPU to establish rules for distributing this relief, including specific timelines and methods, through a formal rulemaking process. This applies only to funds not yet spent, encumbered, or obligated under the settlement agreement.