Bucco introduces bill aimed at lowering energy costs through improved statewide load forecasting
TRENTON, N.J. — Senate Republican Leader Anthony M. Bucco has introduced legislation he says will help New Jersey confront rising energy costs by requiring more accurate and transparent forecasting of the state’s future electricity needs.
Bucco (R-25) announced the “Load Forecast Accountability Act,” a bill that would mandate the collection and review of detailed energy usage projections to guide state planning and investment in generation and storage projects.
“New Jersey families are already being squeezed by rising energy costs, and we can’t afford to make costly decisions blindly,” Bucco said. “The Load Forecast Accountability Act will give us the transparent, reliable data needed to understand our energy use and invest in projects that truly serve New Jerseyans. This information is critical to making smart, affordable, and sustainable policy choices that protect ratepayers and strengthen our energy future. If we want lower costs and better reliability, load forecasting must be central to our energy planning.”
Load forecasting — the process of predicting future electricity demand — is used by utilities, regulators and grid operators to determine how much power must be generated and delivered at any given time. Bucco said accurate projections are necessary to avoid both shortages and costly overbuilding.
When policymakers lack dependable data, he said, the result can be “costly mandates, unrealistic planning, and higher energy bills for consumers.”
Under the bill, the state Board of Public Utilities (BPU) would be required to collect load-forecasting information from electric utilities and analyze how it affects statewide demand projections. The BPU would also be required to coordinate with PJM Interconnection, the regional grid operator, to ensure New Jersey’s load forecasts are reflected in regional planning and that customer contracts and large new loads are accounted for without duplication.
The BPU would issue annual reports to the governor and Legislature summarizing forecast data, its analysis and its coordination efforts with PJM and other regulatory authorities.
Bucco said the legislation is intended to give policymakers clearer insight as the state evaluates future energy priorities and seeks to protect ratepayers.
