New Jersey Electric Companies
New Jersey residential electricity customers saw true electric rate saving options in 2010. The year 2011 will bring even more options for energy users as more electricity companies enter the New Jersey competitive electricity market.
Customers of the traditional electricity utilities (PSEG, JCPL, Altantic City Electric, Rockland Electric) are getting lower electric rate options from electricity suppliers. This is primarily due to the fact that the basic generation service rates, default rates, offered by the utility companies are higher than the rates that can be offered by the alternative electricity suppliers. Deregulation forces the electric delivery companies, such as PSEG and JCPL, to charge default rates to customers who do not shop. These default rates are passed through to the customers with no mark-up.
Customers need to understand that PSEG, JCPL, Atlantic City Electric, and Rockland are not interested in offering competitive low electricity rates to their customers. The deregulation of the New Jersey electric market has resulted in these companies being regulated electricity delivery companies. Their revenues and profit margins are regulated by state.
Electricity shoppers comparing electric companies can choose between variable rates, that allows customers to leave the company at any point, or fixed rates which have penalties for leaving before the contract ends but gives customers price certainty guaranteed savings.
Here are today’s best rates for you to compare and choose from:
JCP&L Electric Rates
ACE (Atlantic City) Electricity Rates