B747 CREW IS INFORMED BY FLIGHT ATTENDANT OF OVERHEATED PANEL AND ELECTRICAL FUMES IN AFT GALLEY. UTILITY BUS EICAS MESSAGE APPEARS SHORTLY THEREAFTER. EMERGENCY DECLARED AND FLIGHT RETURNS TO DEPARTURE AIRPORT.

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I WAS 1 OF THE 2 RELIEF PLTS ON THE FLT. LESS THAN 1 HR INTO OUR BREAK; THE PF CREW WOKE US UP AND INFORMED US THAT THE FLT ATTENDANT RPTED THAT ONE OF THE PANELS IN THE AFT GALLEY WAS HOT TO THE TOUCH AND THAT THERE WAS A SLIGHT BURNING SMELL FROM THE PANEL. THE CAPT SENT ME TO THE AFT GALLEY TO GIVE HIM A STATUS RPT. WHEN I ARRIVED AT THE AFT GALLEY; THE CIRCUIT BREAKER WAS ALREADY PULLED AND THE PANEL IN QUESTION WAS JUST WARM TO THE TOUCH. I ALSO NOTICED THAT PART OF THE ACFT WAS DARK AND THE LAVATORIES DID NOT HAVE ANY LIGHTING WHEN OCCUPIED. THE CAPT ASKED ME TO REVIEW THE FLT MANUAL ON FUEL DUMP VERSUS OVERWT LNDG. APPARENTLY; THE CAPT HAD DISCUSSED THE ISSUE WITH MAINT CTL AND THEY EXPRESSED THAT AN OVERWT LNDG WAS ACCEPTABLE UNDER THE CIRCUMSTANCE. THE CREW JETTISONED FUEL BY USING THE FUEL JETTISON CHKLIST AND SAFELY LANDED IN ZZZ. THE CAPT DECLARED AN EMER AND EMER EQUIP WAS STANDING BY DURING OUR LNDG AND TAXI IN. I FELT THAT THE CAPT'S DECISION TO RETURN TO ZZZ WAS A PRUDENT COURSE OF ACTION AND EVERY PROC WAS ACCOMPLISHED BY SOP.