Requires electric public utilities to apply to BPU for certificate of public convenience and necessity prior to undertaking transmission project.

This bill requires electric utilities in New Jersey to obtain approval from the Board of Public Utilities (BPU) before starting new transmission lines or major modifications to existing ones. Utilities must submit applications including necessary details and pay a fee, with the BPU required to review and decide within 150 days (extendable by 75 days). The BPU must approve only if the project is necessary, cost-effective for customers, promotes a competitive electricity market, and the utility can finance it without harming customers. Projects already approved by the regional grid operator (PJM) are exempt from this requirement.