Repeals certain energy reduction and reporting requirements for electric and natural gas usage.

This bill repeals energy reduction requirements for electric and natural gas utilities in New Jersey. It eliminates the requirement for electric utilities to achieve a 2% annual reduction in electricity usage and gas utilities to achieve a 0.75% annual reduction. The bill also repeals related reporting obligations, including annual compliance petitions, and removes the Board of Public Utilities' authority to create performance metrics, assess penalties or incentives, and conduct studies on energy usage reduction. These changes apply to all electric and gas public utilities operating in New Jersey.