New Jersey Board of Public Utilities

Affordability emergency declaration — Governor Murphy declared a utility affordability emergency in early 2026 following residential electricity and gas bill spikes. BPU opened a formal affordability proceeding; utilities were required to submit bill relief plans. The declaration accelerated review of PSE&G's Clean Energy Future II cost recovery and prompted legislative attention to the Basic Gas Supply Service (BGS) auction structure.

BGS auction and supply cost volatility — New Jersey's Basic Gas Supply Service (BGS) auction sets commodity rates for default-service electric customers. The February 2026 BGS auction results came in above prior year, adding to residential bill increases. BPU is examining whether the annual auction structure adequately protects ratepayers against wholesale market volatility.

355 MW battery storage procurement — BPU approved a 355 MW battery energy storage system (BESS) procurement in 2025 as part of New Jersey's Energy Master Plan compliance. Projects are in contracting phase; PSE&G and independent developers are competing for contracts. BESS deployment is intended to reduce peak pricing exposure and support offshore wind integration.

Commissioner transitions — Rebhorn and Coviello — Christine Guhl-Sadovy serves as BPU President (elevated September 2023). In January 2026, Governor Murphy appointed Zenon Coviello and Christine Rebhorn as new commissioners, confirmed by the Senate. The new commissioners are expected to prioritize affordability and the pending offshore wind project review following developer withdrawals in 2024.

Offshore wind portfolio reset — Multiple offshore wind developers (Orsted, BP) canceled or renegotiated NJ contracts in 2024 citing cost overruns. BPU is conducting a new solicitation under the Offshore Wind Economic Development Act. The reset affects New Jersey's 2035 offshore wind targets and the grid infrastructure that PSE&G had planned to support those projects.