PSEG Electric Rates
PSEG Residential Rates
PSEG Commercial Rates
Get The Best PSEG NJ Electricity Rates
| Provider | Plan Length | Rate |
|---|---|---|
| Clearview Energy | 6 months | 11.69¢ / kWh |
| YEP Energy | 6 months | 12.78¢ / kWh |
| Tomorrow Energy | 12 months | 12.94¢ / kWh |
| Think Energy | 24 months | 13.00¢ / kWh |
| YEP Energy | 12 months | 13.07¢ / kWh |
| Think Energy | 18 months | 13.10¢ / kWh |
| YEP Energy | 18 months | 13.27¢ / kWh |
| Think Energy | 12 months | 13.30¢ / kWh |
Last updated August 2024
Why Switch Providers?
Electricity choice in New Jersey allows consumers to choose who they purchase their energy supply from. If you do nothing, you pay a default rate with your local utility company (PSEG, JCPL, ACE). Consumers can shop for lower rates that can save them money on their monthly electric bills. They may also be interested in shopping for green energy plans that support the environment.
How Does it Work?
Once you choose a competitive electricity plan, the new supplier contacts your utility company and notifies them of the switch. The switch happens electronically during your next meter read date. You do not have to spend time waiting for a technician to come to your house, nor will there be an interruption of power service. You will simply start receiving an electric bill with the new lower rate.
No Additional Charges!
The New Jersey Board of Public Utilities ensures that all residential electricity price offers are an apples-to-apples comparison to the utility default rates (Basic Generation Service). This means that what you see is what you get. There are no additional set up charges or any other surprises.
Will PSEG be Upset if I Switch?
No! PSEG is your local regulated electric utility company, which means they are in charge of delivering power to your home and maintaining the lines and wires. They do not profit from the default generation rates that are on the bill. Instead they pass this money through to competitive energy companies who have won previously held auctions to supply default customers. PSEG encourages their customers to shop for competitive generation rates.
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Current Lowest PSEG Electricity Rates
• You Now Have a Choice when it comes to who supplies your electricity
• You can Save 10-20% on your monthly electric bill
• No Switching Fees, No Interruption of Service, and PSEG remains your electric utility.
About Electric Choice
Customers who have not chosen a competitive supplier pay the PSEG default rate for electric supply. The rate is determined by an auction that PSEG holds for electric suppliers to bid on the right to service default rate customers. Competitive rates will save you money on your electric bill.
Save Money While Remaining a PSEG Customer
PSEG wants you to shop and find a lower rate! This is because PSEG is a regulated utility in charge of electricity delivery. They will remain the company you call in the event of power failure, and they will also continue to send you your monthly electric bill.
Fixed Rate Bill Comparison – April 2024
| Utility | Utility Price to Compare (PTC) | Utility 250 kWh |
|---|---|---|
| ACE | $0.1011 | $25.28 |
| JCPL | $0.0898 | $25.03 |
| PSEG | $0.1199 | $29.98 |
| ROCKLAND ELECTRIC | $0.0917 | $22.93 |
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