NJ Power Companies
Though New Jersey opened up their electricity market to choice several years ago, it is only recently that consumers have had real options when it came to shopping for competitive electric rates.
Alternative New Jersey power companies are now offering electric supply service throughout the state at prices, in most cases, that are lower than utility default rates. New Jersey power customers who get their electric bills from PSE&G, JCP&L, Atlantic City Electric, or Rockland Electric now have choices and can shop for competitive priced electricity.
It has taken awhile for competitive power companies to enter New Jersey mainly because wholesale electricity prices were at the same level as utility default rates between 2003 and 2008. The utilities detemrine their default rates through a series of auctions that span three years up to the current year (i.e. 2012 electric default rates are based on auctions held between 2009, 2010, and 2011). Falling electricity prices have allowed new NJ power companies to offer electricity prices below default rates, giving consumers a great incentive to power shop, electric bill savings!
Below are current competitive electric prices from NJ power companies. Find your utility to see pricing in your specific area.