NJ Power

The New Jersey Power market is finally offering true electric choice to the millions of energy users throughout the state.  The Electric Deregulation and Energy Competition Act in New Jersey gave consumers the chance to purchase their electricity and natural gas from third party suppliers back in 2003.  However true electricity choice options were minimal until recently due to market conditions and a lack of competitive energy companies offering electricity service.

Both residential and commercial energy customers are finding savings on their electric bills by shopping for competitive power rates.  NJ Business electricity rates are 15-25% less than the utility default rates, also known as the price to compares.  New Jersey utilities (PSE&G, JCP&L, Atlantic City Electric, Rockland electric) pass through a default rate to their customers who have not chosen a competitive supplier.  The default rates are determined by a series of auctions held by the utility companies for electricity suppliers.  New Jersey businesses looking for new ways to save money should focus their attention on their electricity bills which can be reduced substantially by finding a lower electric rate.

NJ Power rates for residential customers are anywhere from 10-20% less than utility default rates.  Energy suppliers are currently offering sign-up promotions such as gift cards in addition to the lower rate savings.  JCP&L customers can currently save 15% on their electric bills while PSE&G customers are currently savings 11 percent by choosing an alternative electric supplier.

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