Bill would remove yearly targets for cutting electricity and gas use

The bill would remove yearly targets for cutting electricity and natural gas use and the board's authority to study and set higher targets. New Jersey electric and gas public utilities are covered. The board's stated current yearly targets are 2.15% for electricity use and 1.10% for gas use. Electric and gas utilities would still have to run programs that save energy. If enacted, the repeal would take effect immediately.

The bill would end yearly compliance filings and the board's related authority to set performance measures, offer rewards, or impose penalties. This covers filings by New Jersey electric and gas public utilities on energy savings and cutting use during times of high demand. The rewards and penalties were tied to whether utilities met the board's energy-saving and high-demand reduction rules. If enacted, these changes would take effect immediately.

The bill would end a separate filing process for utilities seeking to recover the costs of energy-saving programs. This applies to New Jersey electric and gas public utilities seeking to recover energy-saving program costs. The separate filing was available in addition to a utility's regular request to change customer rates. If enacted, the repeal would take effect immediately.