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

The Efficient Energy Use Act requires electric public utilities in New Jersey to offer time-varying rates to residential customers who have smart meters. Under this bill, these customers must voluntarily choose to enroll in a pricing plan where electricity costs change based on the time of day, rather than being charged automatically. The New Jersey Board of Public Utilities will oversee the creation of these rates and must work with other state agencies to ensure enrolled customers can still access energy efficiency programs and financial assistance. Utilities are required to inform eligible customers about the new options on their bills, and the Board must submit a report to the Governor and Legislature within one year detailing how many people signed up and how the new rates affected their bills.