The N.J. Board of Public Utilities has its marching orders to examine whether the reliability pricing model used by PJM, the regional transmission organization that coordinates the movement of New Jersey’s electricity needs, is meeting the needs of ratepayers at the lowest possible cost.

On Aug. 15, Gov. Phil Murphy signed two bills into law that are “designed to increase public accountability and transparency in decision-making by the regional grid operator PJM Interconnection, LLC and its…