"Efficient Energy Use Act"; requires certain public utilities to offer time-varying rates.

This bill, known as the "Efficient Energy Use Act," requires electric public utilities in New Jersey to offer time-varying electricity rates to residential customers who have smart meters. Under the law, these customers must actively choose to opt-in to a pricing plan where electricity costs change based on the time of day, rather than being automatically switched. The New Jersey Board of Public Utilities will oversee the creation of these rates and must work with other state agencies to ensure that existing energy assistance programs can still help eligible households. Additionally, the board is required to send a report to the Governor and Legislature within one year detailing how many customers enrolled, the financial impact on those customers, and suggestions for future changes to the program.