Requires electric public utilities to develop and implement grid modernization plans; appropriates $300 million.

This bill requires New Jersey's electric utilities to create and submit detailed grid modernization plans within one year. The plans must address storm resilience, integrating renewable energy sources, improving outage prevention, and meeting climate goals, with cost estimates and timelines. It appropriates $300 million to fund a ratepayer relief program that helps offset customer cost increases from these upgrades. The Board of Public Utilities will review plans, approve or revise them, and manage the relief fund, which prioritizes projects using federal infrastructure funding. The bill does not take effect until passed into law.