That's not the NWS Earle Railroad that you are seeing there. What you are seeing is the former Southern Division of the Central Railroad of New Jersey, which at one time extended from Port Monmouth (and in more recent times Red Bank) to the shores of Delaware Bay south of Bridgeton, NJ. The entire line survived the Conrail takeover of 1976, owned by NJDOT, but the middle section of the Southern Division between Lakehurst and Winslow Junction has been out of service since 1978-79. Conrail Shared Assets still operates it between Red Bank and Lakehurst. It is now known as the Southern Secondary.
The line was never electrified. Those poles belong to the First Energy/JCP&L (the local utility). They extend from Red Bank towards the south (not sure how far they reach). This line is currently under consideration as a potential route for NJ Transit's MOM (Monmouth-Ocean-Middlesex) service. Perhaps wire can be strung from those poles if NJ Transit decides to electrify (which is currently not under consideration).
The NWS Earle Railroad goes under the Parkway between Exits 109 and 114. If you look down from the Parkway bridge, you will see the private military road which parallels the double track military railroad.
There are currently two good discussions on the NWS Earle Railroad and the Southern Secondary over at the NJ Railfan Forum.
Hope this info helps.
(formerly of Hazlet, NJ, now exiled to Massachusetts).