Requires BPU to work with neighboring states to research and recommend certain action concerning electric capacity and transmission.

New Jersey Senate Bill S4693 requires the Board of Public Utilities (BPU) to collaborate with neighboring states to research alternatives to PJM Interconnection's capacity market, which has caused record electricity costs for consumers. The bill directs the BPU to examine three specific options: mandating that electricity providers secure 80% of their future capacity through long-term bilateral contracts, withdrawing from PJM's market to form a multi-state compact, or leaving PJM's transmission grid entirely. This action responds to a 2024 PJM capacity auction that saw prices surge nearly 10x, projecting $14.7 billion in consumer costs for the 2025/2026 delivery year. The BPU must submit a report by December 31, 2025, with recommendations for these alternatives. The bill directly affects electricity providers and ratepayers by targeting the system that sets grid reliability costs.