N.J. Stat. § 48:9A-7: Findings, declarations.

2. a. The Legislature finds and declares that:

(1) Electricity consumption, primarily driven by data center consumption, is increasing across the regional grid at a pace that outstrips the entry of new generation resources, placing the reliability of electric service at serious risk for customers throughout New Jersey;

(2) The resulting lack in available generation capacity has driven wholesale capacity market prices to record highs, costs that are ultimately borne by New Jersey electric ratepayers;

(3) Dependable and affordable electric power is essential to sustaining the competitiveness of the State’s economy and to protecting the health, safety, and well-being of New Jersey residents;

(4) Nuclear generation is inherently carbon-free and consistently achieves higher capacity factors than any other class of generation resource, exceeding 92 percent on a fleet-wide basis, with certain advanced reactor designs potentially capable of operating at full rated output 98 percent of the time;

(5) Nuclear facilities also achieve higher effective load-carrying capacity, reaching as high as 98 percent in summer and 96 percent in winter, potentially enabling them to deliver power to the grid reliably across all weather conditions and seasons;

(6) Nuclear generating stations maintain on-site fuel supplies that confer strong energy security;

(7) New Jersey’s nuclear generating capacity has contracted in recent years, most significantly following the 2018 economic retirement of the Oyster Creek Generating Station, which, at the time of its closure, was the oldest operating commercial nuclear reactor in the United States;

(8) A new generation of advanced nuclear reactor designs is now in the process of entering commercial development, offering meaningful improvements over earlier designs in the areas of safety, thermal efficiency, waste generation, and overall environmental performance;

(9) Advanced nuclear generating facilities have the potential to deliver firm, zero-carbon electricity that enhances grid stability, supports the integration of variable renewable resources, and produces sustained, high-paying employment alongside wide-ranging regional economic benefits;

(10) The development and construction of an advanced nuclear energy project creates significant economic activity for the State, generating thousands of high-wage jobs during the construction and development phases and a substantial number of permanent, skilled trade, and professional jobs over the facility’s operational life;

(11) Advanced nuclear energy development creates meaningful opportunities for New Jersey-based businesses across manufacturing, engineering, fabrication, and related supply chain sectors, and the State is well-situated to cultivate a domestic nuclear supply chain network with benefits that would extend across multiple industries and workforce segments;

(12) Advanced nuclear energy facilities generate material and enduring tax revenues for the State and for the municipalities in which they are located or adjacent, thereby supporting local public services, infrastructure, and community development and providing long-term fiscal stability to host communities;

(13) A dependable supply of nuclear power supports the State’s economic development objectives by making New Jersey a competitive destination for energy-intensive industries, including advanced manufacturing, life sciences, and technology companies, which require reliable, carbon-free electricity as a prerequisite to siting or expanding their operations; and

(14) The environmental and public interest attributes of electric generation resources, including the zero-carbon nature of nuclear generation, its contribution to long-term grid reliability and energy security, and its durable benefits to the health and welfare of New Jersey residents, hold independent value to the State and its people that is separate and distinct from the electricity that electric generation resources produce. As a result, it is appropriate for the State to recognize, define, and actively support these attributes as a matter of State energy and environmental policy.

b. The Legislature therefore determines that, when affordable, it is in the public interest of New Jersey residents to actively promote and support the siting and construction of advanced nuclear reactors in the State as a source of carbon-free, reliable, and affordable electric power and as a driver of sustained economic development, high-quality job creation, supply chain growth, and long-term fiscal strength for the State and its municipalities.

L.2026, c.42, s.2.