N.J. Stat. § 48:7-34: Requirements for approval, certificate of public convenience and necessity.

5. a. The Board of Public Utilities shall approve an application for a certificate of public convenience and necessity submitted by an electric public utility pursuant to section 4 of P.L.2026, c.34 (C.48:7-33) if the board finds that:

(1) the supplemental project meets the applicable grid performance benchmarks established by the board pursuant to section 7 of P.L.2026, c.34 (C.48:7-36) through the proposed deployment of advanced transmission technologies;

(2) the utility can efficiently manage and supervise the construction process and has taken sufficient action to ensure adequate and efficient construction and supervision of the construction; and

(3) the utility can finance the proposed construction without significant adverse financial consequences for the utility or its customers .

b. As part of the application satisfying the requirements in paragraph (1) of subsection a. of this section, the utility shall present a cost-effectiveness analysis, which shall be subject to rebuttal by a party to the proceeding. As part of the approval process for a certificate under this section, the board shall make a finding as to any disputed cost-effectiveness analysis. The board may condition its approval of a certificate under this section on changes to the utility’s application that the board deems to be in the public interest.

c. The board shall issue an order with its determination regarding an application for a certificate submitted pursuant to section 4 of P.L.2026, c.34 (C.48:7-33) and reviewed under this section no later than 120 days after the submission of a completed application. The board may extend this period by an additional period not to exceed 30 days upon a specific finding, made on the record, that an extension will serve the public interest.

d. Nothing in this section shall authorize the board to conduct a siting review of the supplemental project. The board shall not consider the environmental impacts of the project in the board’s determination under this section.

L.2026, c.34, s.5.