Under a new benchmarking program initiated by the New Jersey Board of Public Utilities (BPU), beginning October 1, 2023, reporting energy and water use will soon be a requirement for substantial commercial property owners. All owners or operators of commercial properties over 25,000 square feet in New Jersey will need to log their energy and water use for the preceding calendar year.
However, it should be noted that after this inaugural October 1 deadline, the submission date will shift to July 1 for subsequent years.
In an effort to ease the transition into this new program, the BPU has also incorporated a 90-day grace period for the first two years. This allows property owners and operators some flexibility as they adjust to these new reporting requirements.
The move is aimed at promoting energy efficiency and conservation, and falls in step with similar mandates in other US cities and states. This new requirement will provide the BPU with valuable data that can inform decisions on future energy and water policy measures.
Full details of the requirements can be found on the JDSupra website.
News on the program is continually being released by Greenbaum, Rowe, Smith & Davis LLP, the law firm advising on this mandate.