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

New Jersey bill A-2770 requires electric utilities to charge large data centers a surcharge during peak grid demand periods. This surcharge applies to facilities defined as "large load data centers" (those using at least 50 megawatts monthly for digital data storage and processing). All collected surcharge funds must be transferred to a new "Grid Modernization Fund" managed by the Board of Public Utilities. The fund can only be used to finance projects modernizing the state's electrical grid, with no other purposes permitted. The bill takes immediate effect upon enactment.