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, ensure cost equity between commercial and residential electric vehicle tariffs, and promote investment in electric vehicle charging infrastructure. Additionally, the bill requires that these tariffs include an alternative rate structure for commercial customers operating electric vehicle charging systems, which does not involve demand charges. The BPU is tasked with expeditiously reviewing and approving these applications in accordance with existing laws.

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 provision aims to protect operators of electric vehicle charging stations from unexpected costs while the new tariff structures are being established. A "direct current fast charging facility" is specifically defined in the bill as a location providing commercial access to fast chargers that deliver at least 50 kilowatts of direct current to electric vehicles.