This bill mandates that electric public utilities in New Jersey submit new tariffs for commercial customers to the Board of Public Utilities (BPU) for approval within 180 days of the bill's enactment. The tariffs must be designed to move away from traditional demand-based rate structures and capacity demand charges, ensure cost equity between commercial and residential electric vehicle tariffs, and promote investment in electric vehicle charging infrastructure. Additionally, the bill requires that the tariffs include an alternative rate structure for commercial customers operating electric vehicle charging systems, which does not involve demand charges, and provides predictable costs per kilowatt-hour over various load factors.

Furthermore, the bill prohibits electric utilities from imposing certain non-volumetric charges, such as demand or subscription fees, on direct current fast charging facilities until their tariff applications have been approved by the BPU. This prohibition will take effect 60 days after the bill's enactment, ensuring that operators of electric vehicle charging stations are not subjected to these fees without regulatory oversight. The bill aims to facilitate the adoption of electric vehicles in the state by creating a more equitable and predictable pricing structure for commercial electricity usage related to electric vehicle charging.