JCPL, the New Jersey electricity utility owned by First Energy Corporation, is urging their customers to find lower electricity rates with competitive electricity suppliers. Due to the New Jersey Electricity Choice and Competition Act, JCPL is no longer responsible for the electric generation for their 1,097,000 customers. Instead, the competition act has turned JCP&L solely into a electric utility company, which means they are a regulated electric distribution company; their revenue streams are derived from the delivery of power and the maintenance of the power lines and wires.
The JCPL electric rates for the generation and supply service are default rates that are passed through JCPL to their customers. This means that JCP&L does not profit off of their customers for the supply of their electricity; the part of the bill that is open to electric choice. Many JCP&L customers are surprised to learn that JCPL wants their customers to find a lower electric rate by shopping the competitive electricity market.
Even after JCPL customers choose an alternative electric company with a lower rate, they continue to receive their monthly electric bill from JCPL. The electric bill looks the same, the only difference is that the default rate is placed by the competitive rate chosen by the customer.
Fixed electric rates that are lower than current JCPL default rates result in guaranteed savings. JCPL electric default rates are determined by a series of auctions. The rates are set for one year starting on June 1 and ending May 31 of the following calendar year.
Find low competitive electricity rates with savings between 10-15% versus JCPL default rates by clicking on New Jersey Rates.
Here are the lowest competitive prices for JCPL customers: