This bill mandates that electric public utilities in New Jersey develop and submit a tariff to the Board of Public Utilities (BPU) specifically for large load data centers, defined as facilities with a maximum monthly demand of at least 100 megawatts. The tariff must be designed to protect non-data center customers from increased costs associated with the higher electricity demand from these data centers and to encourage energy efficiency practices, including the use of technologies that capture and utilize waste heat. The bill stipulates that the tariff will be applied to each large load data center within the utility's service area starting one year after the bill's enactment.

Additionally, the bill outlines that all rates, terms, and conditions set by the BPU for these data centers must reasonably safeguard ratepayers against cost increases stemming from new transmission, distribution, capacity, or energy rates that arise primarily from serving large load data center customers. To ensure this protection, the BPU is authorized to impose requirements on electric public utilities, such as requiring large load data center customers to provide financial guarantees for a minimum of 85 percent of the service they request over a ten-year period. The bill aims to balance the needs of large data centers with the financial interests of other ratepayers.