Restructures electric and gas public utility industries.

This bill restructures New Jersey's electric and gas utility industries by allowing electric utilities to own power generation facilities, which would require them to file new rate schedules with the Board of Public Utilities (BPU) for approval and eliminate customer choice of power suppliers. Gas utilities can choose to discontinue residential retail choice for gas suppliers, but must file updated rate schedules with the BPU if they make this change. The bill establishes a new certificate process for electric facilities requiring utilities to obtain BPU approval before construction, including public hearings and environmental assessments. It also creates new rules for determining fault and cost recovery after accidents at power facilities, prohibiting utilities found at fault from recovering certain costs from ratepayers.