Establishes alternative compliance payment to satisfy Class II renewable energy requirements.

This bill establishes a new "alternative compliance payment" (ACP) option for electric power suppliers in New Jersey. Instead of meeting Class II renewable energy generation requirements directly, suppliers may pay a set dollar amount per megawatt hour to the New Jersey Board of Public Utilities. The ACP mechanism applies specifically to Class II renewable energy targets under existing law (P.L.1999, c.23), providing a financial alternative to generating renewable power. This change directly affects electricity providers who choose this payment method to comply with state renewable energy mandates.