This bill amends New Jersey's legislation regarding electricity provision to large data centers, defined as facilities with a peak load of 100 megawatts or more that primarily store, manage, and process digital data. The Board of Public Utilities is tasked with establishing a tariff for these data centers, ensuring that the costs associated with serving them do not unfairly burden other electric utility customers. The bill emphasizes the importance of energy efficiency and mandates that large data centers provide financial guarantees covering at least 85% of their electricity supply costs for a decade. It also outlines the responsibilities of electric public utilities concerning interconnection, demand flexibility, and curtailment priorities during emergencies.

Additionally, the bill requires the Board of Public Utilities to create standards for electricity provision to large data center customers within 12 months of enactment, which will include defining characteristics of these centers and ensuring appropriate cost allocation. It mandates that large data center customers participate in demand-reduction programs and develop a voluntary demand-reduction trade program. The bill also stipulates that existing large data centers approved before its effective date will not be subject to certain new provisions but must still comply with other requirements. Overall, the legislation aims to balance the operational needs of large data centers with the protection of other utility customers, promoting fair cost allocation and efficient use of the electric grid.