This bill mandates that all 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 replace traditional demand-based rate structures and capacity demand charges, ensure cost equity between commercial electric vehicle tariffs and residential tariffs, remain neutral regarding different electric vehicle charging technologies, promote third-party investment in electric vehicle charging infrastructure, and encourage electric vehicle adoption in the state. Additionally, the tariffs must include an alternative rate structure that does not impose demand charges for commercial customers operating electric vehicle charging systems, while also providing predictable costs per kilowatt-hour delivered.

Furthermore, the bill prohibits electric utilities from assessing demand charges, subscription charges, or other non-volumetric tariff structures on direct current fast charging facilities until the BPU has approved the utility's tariff application. This prohibition will take effect 60 days after the bill's enactment, ensuring that operators of direct current fast charging facilities are not subjected to these fees unless the approved tariff includes such a structure. The bill aims to facilitate the growth of electric vehicle infrastructure and usage in New Jersey by establishing a more equitable and predictable pricing framework for commercial electric vehicle charging.