New York (Platts)--6Jul2007

New Jersey Governor Jon Corzine on Friday signed legislation known as the
Global Warming Response Act. The law will require mandatory caps on greenhouse
gas emissions in all sectors of the economy in the state.

     The New Jersey Legislature passed the bill (A3301/S2114) on June 21 by
margins of 36-1 in the Senate and 72-8 in the Assembly. Corzine had backed the
bill, as did Public Service Electric & Gas, the state's largest utility, which
said it would help develop efficiency, renewables and clean power plants.

     The measure requires mandatory reductions of GHG emissions to below 1990
levels by 2020, and to 80% below 2006 levels by 2050. The state Department of
Environmental Protection will determine how far below 1990 emissions must fall
when it implements the law. 

     DEP must develop a plan to achieve the 2020 limit by June 2008,and a plan
to achieve the 2050 limit by June 2010. It must also devise a monitoring and
reporting program by January 2009.

     Under the law, DEP must develop GHG-cutting measures for all sectors of
the state's economy, including electric generation, industry, transportation
and housing.