Cheapest JCPL Electricity Rates
New Jersey’s second larges electricity utility company, Jersey Central Power & Light, is seeing an increase in the number of competitive energy companies entering the state in an attempt to market power supply service to the area’s 970,000 residential customers. With over a dozen competitive electricity companies offering low electricity prices to residential and business consumers, finding the cheapest JCPL electricity rate can be a time consuming project. Energy comparison sites like ElectricRate.com provide a quick and easy way for consumers to find the cheapest electricity rate in JCPL at any time and compare the prices to the JCPL default price.
As of July 2013, 19% of JCPL’s residential customers and 37.5% of the commercial and industrial customers are purchasing power from a competitive energy company. These customers still receive power delivery service from JCPL as well as their monthly electric bill. New Jersey electricity choice allows all electricity customers to choose and shop for competitive power rates that can save them a significant amount of money on their JCPL electricity bills. Households and businesses who do not shop for the cheapest electricity rates pay a default rate for supply service with JCPL which is called the Basic Generation Service charges, abbreviated as BGS charges on the JCPL electric bill. Choosing to buy electricity from a competitive company results in the competitive electric rate replacing the BGS charges on the customer’s JCPL electricity bills.
Electricity choice shopping in JCPL has picked up considerably over the last few years as more energy companies have entered the market and JCPL BGS rates have remained uncompetitive versus free market energy prices. While many companies are currently offering lower electric rates compared to the JCPL default rate, finding the cheapest JCPL electricity rate for your home or business can be easily accomplished by using the ElectricRate.com rate finder search engine. Residential JCPL rates are posted below. All prices are updated daily.