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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

PSEG Electric

12.43¢ Price to Compare

Effective June 1, 2021

Provider Plan Term Rate Savings  
Clearview Energy
100% renewable energy
6 months
11.89¢ / kWh

Save 5%

Clearview Energy
100% renewable energy
12 months
12.89¢ / kWh
Tomorrow Energy
100% renewable energy
12 months
13.48¢ / kWh
Energy Harbor
24 months
13.88¢ / kWh
Direct Energy
18 months
13.99¢ / kWh

Jersey Central (JCPL)

9.65¢ Price to Compare

Provider Plan Term Rate Savings  
Energy Harbor
36 months
9.19¢ / kWh

Save 5%

Energy Harbor
24 months
9.29¢ / kWh

Save 4%

Energy Harbor
18 months
9.39¢ / kWh

Save 3%

Clearview Energy
100% renewable energy
12 months
9.59¢ / kWh

Save 1%

Clearview Energy
100% renewable energy
6 months
9.69¢ / kWh

Atlantic City Electric (ACE)

9.49¢ Price to Compare

Provider Plan Term Rate Savings  
Tomorrow Energy
100% renewable energy
12 months
10.28¢ / kWh
Energy Harbor
24 months
10.44¢ / kWh
Energy Harbor
36 months
10.49¢ / kWh
Energy Harbor
18 months
10.64¢ / kWh
Clearview Energy
100% renewable energy
6 months
10.69¢ / kWh

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.

duke-energy-apples-to-applesSwitch 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.
apples-to-apples-comparisonAll 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.
apples-to-apples-ohio-electricGet 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 Market Data

The current average residential rate in New Jersey is 13.42  ¢/kWh, a lot higher compared to the US national average of 10.54 ¢/kWh. What’s more, New Jersey electric rates continue to rise, with public service electric utilities pushing the cost of power up nationally.

Last updated July, 2021

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!

Utility Companies in New Jersey

The big 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)

pseg electric rates nj
  • 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.

nj power switch

Rockland Electric Company (RECO)

reco electric rates

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.

average cost of electricity in nj
  • 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:

PlanDescriptionWhat's Good?What's Bad?
Time of Use TariffsYou pay a different rate based on the time of day (higher rates during peak hours and lower rates during non-peak hours)
  • If you are able to shift your energy usage to non-peak times, you can save money with this energy plan.
  • The electricity costs during the peak times are often very high
Renewable Energy Credits (RECs)By purchasing 1 REC, you purchase the environmental benefits of 1MWh of renewable energy generation.
  • Reputational gains and compliance targets for businesses with a mandated renewable obligation
  • There are no real downsides -RECs are fairly cheap and the system is secured and tightly monitored.
Green / Renewable Energy Plans
  • When you sign up for green energy, your supplier will match the energy you consume by buying an equal amount from renewable generators
  • A great option for the environmentally-conscious New Jersey residents
  • Until recently, renewable energy plans still cost more than fossil fuel plans (though the good feeling is priceless). However, if you take the time to compare energy plans online, you might find green energy at similar or even better prices!
Prepaid PlansThis plan lets you pre-purchase power for your home at a set price, like a prepaid cell phone.
  • Reduced chance of a bill shock at the end of the month
  • If you are forgetful and don’t update your plan, you might find yourself without power half-way through shower
Variable Rate PlansYour per-unit gas and electricity costs can vary at the discretion of your supplier.
  • More flexible than fixed-rate, you can terminate the contract without incurring fees.
  • More expensive than fixed rates and the price per kilowatt-hour can change at any time - for example when the wholesale price of electricity varies.
Fixed Rate PlansYour unit price for gas and electricity will remain the same for the duration of the plan.
  • Protection against supplier’s price hikes
  • Usually the cheapest, most convenient option
  • Often carry cancellation fees, if you want to exit early

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:

  1. Enter your zip code on our website
  2. Find your monthly usage of electric utilities in your recent bill
  3. Compare rates from other suppliers for a similar energy usage
  4. Sign up for a new deal and start saving money

The change will be automatic and you won’t have to do anything else.

FAQs

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.

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