New Jersey Residential Electric Rates

new jersey electricity rates comparison

New Jersey has four major electric utilities providing electricity delivery service and default generation service. Your utility company is the company that sends you your monthly electric bill.

The utility company continues to manage and control the delivery portion of the electricity (lines and wires) but is no longer in the business of providing the lowest possible electric rates. Instead, they offer a default rate called basic generation service (BGS). BGS rates are set for a year beginning in June and ending in May. Low Competitive Rates in New Jersey are available below:

Comparing Electricity Rates in New Jersey

 


 


 

You are probably thinking – okay, this all sounds good, but how do I find cheaper New Jersey electricity rates? We have the answer. Although the NJ state government actively encourages residents and businesses to shop for electricity and natural gas in the competitive marketplace, it does not offer an official energy comparison tool online.

Don’t despair! A good place to compare electricity rates and switch is our website, ElectricRate. 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.

New Jersey Energy Market Overview

As far as energy prices go, NJ electric rates are on the higher end – according to the Energy Information Administration, the average residential electricity rate in New Jersey is 15.28 cents per kilowatt-hour, compared to the US national average of 13.04 cents per kilowatt-hour.

Perhaps the high average energy costs were the reason why 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 energy suppliers.

The customers that switch will continue to have their electricity transmitted and delivered by one of the big state utility companies – Public Service Electric & Gas (PSE&G), Jersey Central Power & Light, Orange & Rockland or Atlantic City Electric. However, your electricity will be supplied by a competitive energy supplier, often at a cheaper electricity rate.

Utility Companies in New Jersey

The big state utility companies in New Jersey are PSE&G, Jersey Central Power & Light, Orange & Rockland, and Atlantic City Electric. They each charge a different electricity rate to their customers in the service area, causing the average electricity bill variations across the state. If they are your local utility provider, you are able to compare their rates against the retail electric suppliers and, when you find an irresistible offer, simply make the switch.

PSE&G

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  • Customer contact number: 1-800-436-7734
  • Current standard electricity rate: 12.60 ¢ / kWh

Jersey Central Power & Light

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  • Customer contact number: 1-800-662-3115
  • Current standard electricity rate: 8.02 ¢ / kWh

Orange & Rockland

new jersey alternative electric suppliers

  • Customer contact number: 1-877-434-4100
  • Current standard electricity rate: 10.11 ¢ / kWh

Atlantic City Electric

average cost of electricity in nj

  • Customer contact number: 1-800-642-3780
  • Current standard electricity rate: 10.11 ¢ / kWh

 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:

PlanDescriptionWhat's Good?What's Bad?
Green / Renewable EnergyOn this plan, your supplier will match the energy you consume by buying an equal amount from renewable generators
  • A great option for the environmentally conscious Texans
  • Renewable energy still costs a bit more than non-renewable energy (though the good feeling is priceless)
Variable RateYour per-unit gas and electricity costs can vary at the discretion of your supplier
  • More flexible than fixed-rate, can exit without incurring fees
  • More expensive than fixed rates
  • Supplier is free to hike up the price
Fixed Rate Your unit price for gas and electricity will remain the same for the duration of the plan
  • Protection against supplier’s price hikes
  • Usually cheapest
  • Often carry cancellation fees, if you want to exit early
Renewable Energy Credits (RECs)By purchasing 1 REC, you purchase the environmental benefits of 1MWh of renewable energy generationReputational gains and compliance targets for businesses with a mandated renewable obligationThere are no real downsides -RECs are fairly cheap and the system is secured and tightly monitored.

FAQs

Below are answers to some of the questions you might have about New Jersey rates:

How much does electricity cost per month in NJ?

According to the EIA, the average residential electricity rate in New Jersey is 15.28 cents per kilowatt-hour. Considering a household with an estimated monthly energy consumption of 900 kWh, the average electricity bill would come to $ 142.38.

How much does PSE&G charge for electricity?

According to the published information on its website, the PSE&G Price to Compare is 12.60 cents per kilowatt-hour. Price to Compare is the price that your utility company charges for the supply portion of your electric service.

How much does JCP&L charge per kWh?

According to the published information on its website, the JCP&L Price to Compare is 8.02 cents per kilowatt-hour.

What’s a good rate for electricity?

The best electric rate is tailored to the specific needs of the customer. You can compare electric rates, available for your area by simply entering your zip code on our website.

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