NJDEP-NJBPU Regional Greenhouse Gas Initiative Update
| For Immediate Release: | Contact: Alonza Robertson |
| Date: 08/7/2026 | 609-913-6237 |
TRENTON, N.J. — August 7, 2026 — Since Day One, the Sherrill Administration has tackled energy affordability head-on and has committed to improving communication and transparency. Governor Sherrill’s Executive Orders 1 and 2, accompanied by a significant ratepayer relief package, demonstrates the Sherrill Administration’s commitment to securing energy affordability.
As a part of the administration’s commitment to transparency and taking immediate action to address affordability, the New Jersey Department of Environmental Protection (DEP), the Board of Public Utilities (BPU), and the Economic Development Authority (EDA) issued a joint statement addressing the use of Regional Greenhouse Gas Initiative (RGGI) funds for ratepayer relief, in accordance with Executive Order 1.
To ensure accountability, DEP and BPU will hold a joint hearing to discuss allowance prices and better understand the concerns expressed by various stakeholders regarding the benefits and impacts to New Jersey ratepayers resulting from the State’s participation in RGGI. At this joint hearing, DEP and BPU will present an action plan for ratepayer relief through the strategic use of RGGI proceeds and other mechanisms for short and long-term consumer bill stabilization and reduction. The release of the action plan and subsequent hearing will address our joint statutory obligations on this issue.
Additionally, DEP today submitted a proposal with the Office of Administrative Law to amend the New Jersey Carbon Dioxide (CO2) Budget Trading Program rules that establish the State’s commitment to the RGGI, consistent with the updated RGGI Model Rule.
The proposal will be published in the New Jersey Register in September. Publication will begin a 60-day comment period on the proposal. The comment period will include a virtual hearing in early October which will be aligned with the joint hearing presenting the ratepayer relief action plan addressed above. At that time the public will have the opportunity to provide oral comments on both the proposed rule and the action plan. The official hearing date will be included in the published notice of the rule proposal in the Register.
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