Restructures electric and gas public utility industries.

This bill, S 730, restructures New Jersey's electric and gas utility regulations by giving public utilities new choices regarding ownership and customer service. Electric utilities that own generation facilities must bundle rates and file updated tariffs with the Board of Public Utilities (BPU), ending retail choice for customers. Gas utilities can choose to discontinue retail choice for residential customers, requiring BPU-approved tariff changes that bundle gas rates. The bill also requires BPU approval for utility ownership changes and new electric facility construction, ensuring rate adjustments and environmental considerations are reviewed before implementation. These changes directly affect utilities and residential customers who previously had options to choose suppliers.