This bill mandates the Board of Public Utilities (BPU) to conduct a study on the impact of electricity usage by data centers on electricity rates in New Jersey. The study must be completed within one year of the bill's enactment and will focus on several key areas, including whether current cost allocations unfairly burden non-data center customers, the potential for unreasonable rate increases due to infrastructure needs for data centers, and projections of how data centers will affect residential electricity rates over the next 20 years. Additionally, the BPU is tasked with evaluating policy alternatives, such as implementing a special tariff for data centers, to mitigate any adverse effects on ratepayers.

The BPU is required to submit a report detailing its findings and recommendations to the Governor and the Legislature within 15 months of the bill's enactment. The bill will take effect immediately and will expire 30 days after the BPU submits the required report. This legislative action aims to ensure that the growing demand from data centers does not lead to unfair cost burdens on residential electricity consumers.