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New Jersey is one of the few states where both the electric and gas markets are deregulated. In 1999, New Jersey electric became deregulated. In New Jersey, both suppliers and utility companies can operate their own power plants, creating a more competitive marketplace. The utilities still offer a standard offer or “price to compare” as a default supply option.
New Jersey law creates a clear division between electric supply and delivery. The supply portion is open to competition, but the delivery method remains the same no matter who you choose as your supplier. This means no matter where your power is from, it’s held to the same safety and reliability standards across the state.
Interested in comparing electric rates in New Jersey? Great! You’ve come to the right spot! Next, we will teach you how to use our online search engine to find the best electric rate for your home or business. Oh, and did we mention that we can also offer custom quotes to larger businesses? Simply click on the custom quote option. Here are the best steps to take when comparing electric rates in NJ:
First, decide on the type of NJ electric rate you want. Is the cheapest price your priority? Maybe you are looking for other features such as no cancellation fees or deposits?
Next, type in your NJ utility or zip code into our search bar and open the cheapest New Jersey electric rates near you! Then set your specific search parameters to your exact wants and needs.
After you found what you are looking for, simple click to enroll in your new electricity plan. You will be prompted to enter your account details and agree to the supplier's terms.
Shopping for a new supplier can at times feel overwhelming. It’s important to understand the difference between your utility company and the supplier. Utility companies and electricity suppliers each serve a different purpose. Utility companies — like those listed below — are responsible for maintaining New Jersey power lines, as well as electricity distribution and transmission.
They move the energy to substations, where it’s dispersed to homes and businesses. Energy suppliers in New Jersey work alongside the utility company to provide the power to its end-user. Your chosen New Jersey electric company is the supplier and is responsible for establishing prices and negotiating contracts with you.
Are you wondering what time of NJ electricity rates are available for your home or business? Rest assured knowing that our website is extensive. We have direct connections with all NJ electricity providers so you can shop the best NJ electric rates today. Here are some of the common electricity plans New Jersey energy suppliers offer:
Fixed-rate electricity plans allow residents and businesses in New Jersey to lock-in electricity unit costs at a certain $/kWh for a contract period term. This provides price certainty and a relatively simple way to budget for energy costs.
Our site also gives New Jersey residents the option to choose between residential electricity rates and commercial electricity rates. Commercial businesses in New Jersey even have the ability to request a custom quote that is tailored to the business's individual usage.
Are you looking for a green electricity plan in New Jersey? Our site displays rates from some of the leading green energy suppliers in New Jersey. Whether you want electricity generated from wind or solar, you can easily sort by 100% renewable plans.
The most important part of your supplier rate should always be transparency, so you have a clear idea of your monthly energy cost no matter your rate term. According to the U.S. Energy Information Administration (EIA), the average retail price of electric in New Jersey is $13.42 per kilowatt-hour. Commercial and industrial consumers with peak loads at or exceeding 750 kWh are subject to a one-half cent retail margin, while those with peak loads at or exceeding 1,000 kWh may be subject to hour-by-hour pricing.
New Jersey law creates a clear division between electric supply and delivery. The supply portion is open to competition, but the delivery method remains the same no matter who you choose as your supplier. This means no matter where your power is from, it’s held to the same safety and reliability standards across the state.
Easily enroll your electric or gas online with our portal.
Our energy advisors are ready to discuss your options, 800-225-3813.
Watch LIVE as suppliers bid on your energy with our reverse auctions.
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