Modifies rate-regulation over municipal electric utilities.

This bill modifies New Jersey's regulation of rates for municipal electric utilities. It limits the Board of Public Utilities' (BPU) oversight to municipal utilities serving more than 10,000 billed customers outside their city limits, or those charging different rates to inside/outside customers. Municipalities charging the same rates to all customers (inside and outside the city) would be exempt from BPU rate regulation, requiring them to set rates via local ordinance instead. The bill also clarifies that utilities must still pay BPU assessments and allows up to 5% of operational surplus revenue to be transferred to local budgets. This directly affects municipal utilities providing electricity beyond city boundaries.