Signed by Governor Chris Christie

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that establishes a long-term capacity agreement pilot.

Highlights:

• Establishes a schedule and requirements to support the commencement of the long-term capacity agreement pilot program (LCAPP) including, but not limited to, the following (Sec. 3):
• Requires that the Board of Public Utilities initiate and complete a proceeding no later than 60 days after the effective date resulting in a standard offer capacity agreement (SOCA), to be awarded and executed no later than 30 days after approval;
• Requires that the board retain an agent, approved by the board, to administer the LCAPP;
• Requires that the board provide an opportunity for comment and public hearing, addressing requirements for the LCAPP; and
• Requires that the board establish criteria associated with the prequalification of eligible generators for participation in the LCAPP through a demonstration of environmental, economic, and community benefits.

Vote Smart's Synopsis:

Vote to pass a bill that establishes a long-term capacity agreement pilot.

Highlights:

• Establishes a schedule and requirements to support the commencement of the long-term capacity agreement pilot program (LCAPP) including, but not limited to, the following (Sec. 3):
• Requires that the Board of Public Utilities initiate and complete a proceeding no later than 60 days after the effective date resulting in a standard offer capacity agreement (SOCA), to be awarded and executed no later than 30 days after approval;
• Requires that the board retain an agent, approved by the board, to administer the LCAPP;
• Requires that the board provide an opportunity for comment and public hearing, addressing requirements for the LCAPP; and
• Requires that the board establish criteria associated with the prequalification of eligible generators for participation in the LCAPP through a demonstration of environmental, economic, and community benefits.

Full Bill Text