New Jersey Electric Rates.
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Guide to Electric Supply in New Jersey
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.
Utility Providers in NJ
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.
Jersey Central Power and Light — (800) 662-3115
Public Service Electric and Gas (PSE&G) — (800) 436-7734
Rockland Electric Company — (877) 434-4100
Atlantic City Electric — (800) 642-3780
Shop For A New Supplier
Welcome! We’re happy you are here. Let’s get to work on your next electric agreement.
Residential & Small Business Rates in New Jersey
Does your home or business use under 250,000 kWh’s per year? Easily review our online portal to compare suppliers. Rates area are based on today’s current market.
Schedule A Reverse Energy Auction
Larger commercial and industrial clients can easily benefit from our reverse energy auction process. This tailored approach to shopping is revolutionizing the energy industry with rates.
New Jersey Electric 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.
What Should I Look for When Choosing an Energy Supplier in NJ?
If you’re planning to switch your New Jersey electric supply, you must first review your energy needs (how much do you consume?), your current contract end date and the goals of your new contract:
Fixed-Rate Plan
Fixed rates lock in your energy costs for the term of the agreement. This rate option gives businesses a clear look at monthly energy costs, ideal for closely managed budgets.
Variable-Rate Plan
Variable plans rise and fall with market demand and other cost factors, so your rate will likely change from month to month. Some suppliers may call variable terms “floating” rates.
Want To Learn More?
Review These Tips Before You Shop for Electric in NJ
Let’s review the basics before you sign your next agreement.
Contract End Dates
If you are in a contract, it’s important to know when that contract is coming up for renewal. You’ll want that date to know when you can shop for a new agreement and avoid cancellation fees.
Additional Fees and Charges
Energy contracts can sometimes feel like a foreign language if you’re not dealing with them everyday. Contracts can allow for pass throughs, monthly fees or other items. It’s important to review and know those before you sign.
Monitor the Market
Just like the stock market, energy trades daily. This means that rates are not guaranteed tomorrow. Staying on top of the market is what we do. We will provide you with all the info you need to make an informed decision about your energy strategy.
Electricity Terms 101
If you have never shopped before, you’ll likely want to familiarize yourself with these three frequently used terms.
Supplier
These are the companies that you can shop against for a new supply rate. They provide you with the power at your agreed upon term.
Utility
Your utility still is responsible for getting that energy to you. They maintain the power lines, handle the distribution and make sure your lights stay working.
Consolidated and Dual Billing
The most common form of billing is consolidated. This means you receive one bill from likely your utility for both the supplier and utility charges. When you are dual billed, it just means you’re receiving a bill from each company.
Simplified Ways to Switch.
No matter how you choose to switch, we’ve got options.
