NJ Default Rates will Decrease in 2010, Greater Savings Available for Shoppers

Electric rates will decrease for the second year in a row for New Jersey electric consumers who are on default service (i.e. have not shopped for a competitive supplier).  However, despite the decrease, greater savings are still available for these default service commercial and industrial customers if they decide to shop the competitive market for lower rates.

The default rates will lower after the four major New Jersey Utilities (PSEG, JCPL, ACE, Rockland Electric) completed their auction for basic generation service. 

Even after the default service reduced rates take effect on June 1, business consumers can expect to save anywhere from 10-30%  more off of those rates by contracting out with an alternative supplier.

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2 Comments »

  1. Shawn Said,

    May 19, 2010 @ 9:21 am

    I’m looking for an official document that states that the local utility company makes no money off the electric portion of their customer’s bill. I work with a third party supplier and some of the larger customer’s I’m in negotiates with have a sponsorship with PSEG. They are being told that third party suppliers are directly in competition with them . I’m being asked to provide “official” proof that that is not the case.

    Thanks
    Shawn

  2. DOMINIQUE STEVENS Said,

    May 21, 2010 @ 10:27 pm

    I am curious to know if you get what you are looking for. Please email me if you do. Thanks Dominiqu

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