Subject to the approval of the board of public utility commissioners, any municipality owning and operating a plant for supplying light, heat or power may:

To adjoining municipalities. a. Enter into and make a contract with any adjoining municipality to supply electricity, gas, steam or other product for light, heat or power purposes for public or private use within the adjoining municipality for a period not exceeding ten years, at such rates and upon such terms as may be mutually agreed upon in the contract;

To individuals or corporations. b. Supply electricity, gas, steam or other product for light, heat or power purposes for public or private use to the inhabitants individually or to any private corporations within any adjoining municipality, if the governing body of such adjoining municipality shall, by resolution, consent thereto; and,

To counties. c. Supply electricity, gas, steam or other product for light, heat or power purposes to the board of chosen freeholders of any county in which the municipality may be located or any county adjoining the county in which the municipality may be located, at such rates and upon such terms as shall be agreed to between the municipality and the board of chosen freeholders.