NJ Energy
Energy customers in New Jersey are given a variety of options when in comes to their energy purchasing decisions. New Jersey is leading the country in clean energy initiatives with the NJ Clean Energy Program which provides rebates and promotions for consumers looking to purchase energy efficient hardware. The program also promotes the use of renewable energy sources such as solar and wind and provides financial assistance for consumers and businesses who invest in solar energy systems.
NJ Energy customers have also seen the benefits of an energy choice market where customers are able to shop for competitive electricity and natural gas rates. Many energy consumers in New Jersey have not used NJ Energy Choice to their advantage because of an unfamiliarity to the program. Natural gas customers who have not shopped pay a default rate with their utility which is based largely on market price. In this sense the decision to purchase competitive natural gas is a decision of price protection and certainty; savings versus the default rates cannot be guaranteed because they change on a monthly basis.
On the contrary, utility default electric rates are set for one year at a time, and the default rates for the following year can be estimated within a tight range since a large percentage of that energy is purchased in advance for default rate paying customers. These buying strategies present opportunities for NJ electricity customers to save money on their electric bills if they find competitive electric rates that are lower than the default rates. Many electric suppliers in New Jersey are offering electricity prices that will save customers money. Business customers in particular have big opportunities to save money. Many small businesses in New Jersey have not chosen a competitive electricity supplier because they do not fully understand their electric bill.
New Jersey electricity customers, both residential and business, can use electric choice information sites to understand energy competition and electricity rate structures so that they can maximize their energy savings.
