Establishes surcharge for electric public utility service to certain data centers during certain periods; establishes "Grid Modernization Fund" in BPU.

This bill requires electric utilities in New Jersey to charge a special surcharge to large data centers (defined as facilities using at least 50 megawatts monthly for data storage and processing) during peak electricity demand periods. All surcharge payments collected must be transferred to a new "Grid Modernization Fund" managed by the Board of Public Utilities. The fund's sole purpose is to finance projects that modernize the state's electrical grid, such as upgrading infrastructure or improving reliability. This directly affects large data center operators and utilities serving them, with no other provisions or exemptions mentioned.