Business Electricity Rates Offer Savings to JCPL New Jersey Area
Jersey Central Power and Light (JCP&L) serves over 1.1 million customers in central and northern New Jersey. Thanks to the New Jersey Energy Choice Program business customers that are serviced by JCP&L are free to shop around for a competitive supplier for their generation charge. According to the New Jersey Electric Switching Statistics, more than 35% of small businesses have switched over to a competitive supplier. This number is expected to grow as more JCP&L business customers become aware of New Jersey energy choice.
JCP&L business customers that elect to go with a competitive supplier can expect to see significant savings on their electric bills. Based on current market conditions a business switching to a competitive rate can reduce its generation cost by 13 to 20 percent. JCP&L will continue to be the local distribution company and will maintain the lines and wires that deliver the electricity to the business. This means those who participate in electricity choice will continue to receive the electric bill from JCP&L while enjoying a lower generation rate.
The New Jersey Energy Choice Program also allows a business to select competitive rates based on their individual preferences. A small business may decide to lock in a short-term rate at a very attractive price or lock in a long-term fixed rate to minimize their risk to what often can be a very volatile market. Competitive suppliers may also offer variable rates but a business should always read the terms and conditions carefully as these rate structures may not always directly correlate with market conditions but can change at the sole discretion of the supplier.
As the New Jersey Energy Choice Program further develops there will be more options for JCP&L business customers to choose from. The increase in suppliers entering the JCP&L market is expected to further reduce prices. Business customers looking to shop around may also want to consider 3rd party options. A few of these 3rd party options specialize in contract reviews and make sure the suppliers include all components of the supply charge so there will be no hidden charges. One great option is ElectricRate.com. The ElectricRate.com commercial rate database gives access to a variety of top competitive suppliers in the area and is a great resource for JCP&L business customers looking to lock in a low competitive rate.
Select your utility and monthly electric bill amount below to see current competitive New Jersey business electricity rates. All offers are provided by electricity suppliers who are licensed by the New Jersey Board of Public Utilities.