Compare New Jersey Energy Rates
Just like Texas, Pennsylvania, or Ohio, New Jersey offers its residents the power of choice through its deregulated energy market. Customers like you can avoid paying high standard tariffs set by utilities and enjoy better prices and additional benefits from the competition.
How does New Jersey electricity deregulation work? Your local utility company manages the energy infrastructure (lines and wires) and controls the delivery of electricity to your home but is no longer in the business of providing the lowest possible electric rates. Instead, New Jersey residents can shop with one of many NJ energy providers for fixed-rate, variable-rate, and green energy plans and many benefits. We will show you how.
New Jersey Electricity Rates
Lowest electric rates in NJ today:
New Jersey Energy Market Data
Last updated May 2022
- The average New Jersey residential electricity rate was 16.18 ¢/kWh (15% higher than the national average).
- The average New Jersey commercial electricity rate was 13.57 ¢/kWh (13% higher than the national average).
- The New Jersey on-peak usage is currently 9am to 9pm Monday through Friday and off-peak usage is 9pm to 9am every day of the week. When daylight saving time ends, the hours change to 8 p.m. to 8 a.m.
Source: New Jersey energy data from The U.S. Energy Information Administration (EIA)
New Jersey Electric Suppliers Rates Overview
The current average residential rate in New Jersey is 16.18 ¢/kWh, a lot higher compared to the US national average of 13.90 ¢/kWh. What’s more, New Jersey electric rates continue to rise, with public service electric utilities pushing the cost of power up nationally.
When you switch energy companies, your local utility will continue to deliver electricity safely to your door through the state power lines. The only thing that will change will be the supply portion of your energy bill – which will now have the name of your new supplier and a better supply rate!
Energy Deregulation in New Jersey
New Jersey deregulated its retail sector in 1999 with the Electric Discount and Energy Competition Act (EDECA) and gave the residents choice in the selection of the top energy suppliers and attractive rates. The deregulation introduced a new era where businesses and homeowners could freely shop for New Jersey electric rates and switch to competitive, more convenient energy providers.
The New Jersey Board of Public Utilities actively monitors the New Jersey natural gas and electric rates in the competitive marketplace. Although the website does a great job of informing customers of who the licensed NJ energy suppliers are and what questions to ask them, it doesn’t offer any comparison of rates in New Jersey for customers to choose the right energy plan.
That’s where ElectricRate comes in! You can enter your zip code to see the available offers in your area or read our energy suppliers’ reviews and find out about additional perks you can enjoy as a consumer.
|Switch to your new service in a few clicks - When you enter your zip code on ElectricRate, you will not only see all rates, with the cheapest deals displayed on the top of the list, but you can also sign up immediately with just a few clicks.|
|All the information you need in one place - As customers, we all like excellent customer service and extras. That's why at ElectricRate, we carefully review all major suppliers and compile information about customer support hours, ratings, and extra benefits that they provide, such as attractive referral programs, complementary goods, and value-add services.|
|Get the support you need: Our team at ElectricRate is ready to provide ongoing support to customers, including helping you choose the plan that best fits your lifestyle, notifying you when your plan is about to expire and any additional support you might need. All you need to do is give us a call at 1-888-307-9636 or email [email protected]|
New Jersey Energy Companies
The big four public utilities in the state of New Jersey are Jersey Central Power & Light, Rockland Electric Company (RECO), Atlantic City Electric, and PSE&G. They each charge different electric rates to their customers in the service area, causing the average electricity bill variations across the state. They are also free to raise the electricity rates at their discretion and they often do!
If one of them is your utility company, you can compare their standard tariff (also known as Price to Compare) to New Jersey electric rates from another energy supplier by entering your zip code in our online comparison tool.
Public Service Enterprise Group (PSE&G)
- Customer contact number: 1-800-436-7734
- Current residential standard tariff : 7.299 ¢ / kWh (Effective March 1, 2021)
- Current commercial standard tariff : 7.88 ¢ / kWh (Effective March 1, 2021)
Jersey Central Power & Light (JCP&L)
JCP&L, a member of the FirstEnergy Group of utilities, serves 1.1 million customers in central and northern New Jersey.
- Customer contact number: 1-800-662-3115
- Current standard tariff: 10.036 ¢ / kWh (Effective March 1, 2021)
- Get a residential Time of Day meter from JCP&L. For those who are unfamiliar with it, it’s a device that breaks down your electricity use into on-peak usage (currently 9am to 9pm Monday through Friday) and off-peak usage (9pm to 9am every day of the week). When daylight saving time ends, the hours change to 8 p.m. to 8 a.m.
Rockland Electric Company (RECO)
- Customer contact number: 1-877-434-4100
- Current standard tariff: 10.911 ¢ / kWh (Effective March 1, 2021)
Atlantic City Electric (ACE)
Atlantic City Electric, a subsidiary of Exelon Corporation, delivers safe, reliable, and affordable electric service to approximately 560,000 customers in southern New Jersey.
- Customer contact number: 1-800-642-3780
- Current residential standard tariff: 10.29 ¢ / kWh (Effective March 1, 2021)
- Current commercial standard tariff: 9.42 ¢ / kWh (Effective March 1, 2021)
Energy Plans & Products in New Jersey
Energy plans are like shoes. One size does not fit all. Navigating through complex information about power rates can be confusing and can ultimately deter you from shopping for a better deal. Below is all you need to know about the different energy products that power companies offer to New Jersey residents:
|Plan||Description||What's Good?||What's Bad?|
|Time of Use Tariffs||You pay a different rate based on the time of day (higher rates during peak hours and lower rates during non-peak hours)|| |
|Renewable Energy Credits (RECs)||By purchasing 1 REC, you purchase the environmental benefits of 1MWh of renewable energy generation.|| |
|Green / Renewable Energy Plans|| |
|Prepaid Plans||This plan lets you pre-purchase power for your home at a set price, like a prepaid cell phone.|| |
|Variable Rate Plans||Your per-unit gas and electricity costs can vary at the discretion of your supplier.||
|Fixed Rate Plans||Your unit price for gas and electricity will remain the same for the duration of the plan.||
How To Find The Best Provider For You
Switching to a new energy supplier might seem complicated, but we promise you – it isn’t! Follow these simple steps to find your New Jersey electricity rates plan:
Analyze Your Current Costs
Look at the electric supply charges on your utility bill, which will be expressed in cents per kilowatt-hour. This number is called your Price to Compare and your primary objective is to find a plan with a lower number.
Review Your Current Contract and Plan
Switching suppliers can be costly if you are the type of person that tends to skim through the fine print in your contract. For example, if you are currently on a fixed-rate electricity plan, there might a penalty associated with switching out too early – check if you are able to switch without a fee.
Compare Energy Plans
Use our online tool to see available rates for your zip code. Find the one with the lowest rate and if you like what you see, you can sign up right there and then! A pro tip – We all like good customer service. That’s why at ElectricRate.com, we carefully review all major suppliers and rate them based on their prices, customer service, and extras! Before you sign up, read our review of your new supplier to avoid surprises.
What You’ll Need To Switch Suppliers
To change energy provider, you only need your zip code, a recent energy bill, and about 5 minutes of your time. The process is as follows:
- Enter your zip code on our website
- Find your monthly usage of electric utilities in your recent bill
- Compare rates from other suppliers for a similar energy usage
- Sign up for a new deal and start saving money
The change will be automatic and you won’t have to do anything else.
Below are answers to some of the questions you might have about New Jersey rates:
How much is a kWh in NJ?
Electricity in New Jersey certainly isn’t a cheap affair. According to the EIA, the current average residential electricity rate in New Jersey is 13.42 ¢/kWh, a lot higher compared to the US national average of 10.54 ¢/kWh. Considering a household with an estimated monthly energy consumption of 900 kWh, the average electricity bill would come to $ 120.78.
How much does PSE&G charge for electricity?
According to the published information on its website, the Current PSE&G residential standard tariff is 7.299 ¢ / kWh (Effective March 1, 2021). This tariff is also called Price to Compare – the price that your utility charges for the supply portion of your electric service. If you are a PSE&G customer, you can compare electricity rates from other suppliers on our website.
How much does JCP&L charge per kWh?
According to the published information on its website, the current JCP&L standard tariff is 10.036 ¢ / kWh (Effective March 1, 2021). This tariff is also called Price to Compare – the price that your utility charges for the supply portion of your electric service. If you are a JCP&L customer, you can compare New Jersey electric rates from other suppliers on our website.
What’s a good rate for electricity?
Some customers like fixed-rate plans for peace of mind and to protect against spikes in the price. A variable-rate plan is a good option for those who like to keep their options open – even if it means a slightly higher electric bill. Green energy plans will be appreciated by sustainability enthusiasts. The best electric rate is tailored to the specific needs of the customer. You can compare electric rates by simply entering your zip code on our website.