Requires BPU to allow certain bidding practices during basic generation service auctions.

This bill requires New Jersey's Board of Public Utilities (BPU) to allow electricity suppliers to bid for one-, two-, or three-year supply periods in Basic Generation Service (BGS) auctions for Residential Small Commercial Pricing (RSCP) customers. Currently, RSCP customers' bills average three-year contracts, but this change would let suppliers bid for shorter terms. The BPU must select the most price-competitive bids, aiming to potentially lower costs by reducing pricing uncertainty. It does not apply to commercial or industrial customers (CIEP class).