After a year of sub-par prices, competitive New Jersey electricity suppliers have lowered their rate offers in the JCPL service area. Several electricity companies have focused their attention to JCPL residential customers who are on the default utility rate service and customers who are on competitive rate plans that are about to expire. The JCPL basic generation service rate has been fixed since October 1, 2018 and will not change until June 1, 2019. The current price is $0.102258 per KWh, which is substantially higher than the lowest JCPL competitive rates. Even though the default rate will change on June 1, now is as good as time as ever to shop and compare for New Jersey electricity rates in the JCPL area.

Choosing a competitive electricity supplier can benefit consumers at anytime of the year. The key is to find a competitive rate that is lower than the utility default rate which will provide guaranteed savings on the electric bill; a scenario that currently exists for JCPL customers. While historically wholesale energy prices are lower in the fall and spring, the summer and winter months often provide great opportunities for electricity shoppers looking to save money. Competitive electric suppliers already have future weather projections built into their rates so anytime can be a good time to shop and choose the best electric rate.

In addition to prices that are below the basic generation service rate, many New Jersey electricity suppliers are offering green energy rates to JCPL customers. Selecting a green energy plan causes JCPL to purchase the amount of power that you consume during the term of the contract from electricity generation sources that are deemed green or environmentally friendly such as wind, solar, and hydro power. In the past these green energy plans usually cost a premium to the customer. Currently some JCPL supplier are offering the green energy option to their lowest priced rates.

While the JCPL basic generation service rate for the summer of 2019 is currently unknown, it is likely going to be higher than many of the low competitive rate options being offered. The summer JCPL default rate will go into effect on June 1, 2019 and remain in effect through the end of September. The actual price will be announced sometime in early May.

On October 1, 2016 the New Jersey Public Service Electric & Gas Company (PSEG) enacted a scheduled change to their basic generation service rate charged to residential customers. The rate change will effect roughly 1.7 million residential electricity customers in the state of New Jersey who are not purchasing their power from an alternative supplier. Basic generation service represents the costs for the power supply portion of the bill, which is also the section of the bill that PSEG customers have the option to shop around and search for a better price.

As of August 2016, the New Jersey Board of Public Utilities reported that 185,973 PSEG residential customers, 10.4% of the residential customer base, had elected to purchase their power from an alternative supplier. For these customers, the rate change that took place on October 1 will not effect their monthly electric bill. Instead these customers will pay whatever rate they purchased from the specific alternative PSEG supplier for whom they entered into a contract with.

The remaining 89.6% of PSEG residential customers who are paying the high basic generation service rate of $0.125982 for their power supply have an opportunity to lower their electricity costs by finding a more competitive offer from an alternative supplier. The new PSEG rates will stay in effect until May 31, 2017. On June 1, 2017 the rates will increase even more to $0.137684 for some consumers. With no rate relief in sight from PSEG, the time to shop for competitive PSEG residential rates is as beneficial for consumers as it ever has been. Competitive rate offers below show the amount of savings versus the current PSEG basic generation service default price.

PSEG recently announced the prices they will charge for summer of 2014 for generation and transmission service to customers who have not chosen a competitive supplier and are on the basic generation service (BGS) rate structure. The BGS prices will increase by 11% for residential customers on the the first of June, 2014 when the summer rates for all New Jersey electricity users on default service go into effect. Consumers who have taken advantage of New Jersey electricity choice will not have to worry about the increase in the BGS rates, which are default electric rates for people who have not taken the time to shop the competitive energy rate market.

Basic generation service rates charged by PSEG are determined through an auction process where competitive electricity suppliers bid for the ability to charge a portion of the BGS customer pool. Customers receive on rate structure for the summer month period which begins on June first every year and goes through the end of September, and then a second non-summer period that starts on October first and goes through the end of May of the following year. Since October 1, 2013 residential PSEG electricity customers on BGS rate class have been paying $0.114457 per KWh. On June 1, 2014 a customer will pay $0.1270 per KWh for all consumption above 600 KWh which represents an 11% increase.

In an effort to avoid the price increase, PSEG residential electricity customers who are currently on the default rate are looking to the competitive market to find a lower electricity price. Consumers should be weary of variable rate offers as companies often market a low introductory rate that goes up after the first month to prices that are even higher than the default BGS rates. In contrast, low fixed rates can offer respectable savings for PSEG customers this summer while offering protection against potential future increases by the utility.

Below are competitive PSEG rates being offered by electricity suppliers who are licensed by the New Jersey Board of Public Utilities. All rate plans are updated everyday.

Residential customers who are serviced by Atlantic City Electric can currently save up to 22.5% on their electric bills. This is a result of the New Jersey Electricity Choice and Competition Act that went into effect in 2003.

Savings above 10% are available for the first time for Atlantic City Electric customers because retail electric rates in the competitive market are lower than current Atlantic City Electric default rates, also called Basic Generation Service (BGS) rates.

When an Atlantic City Electric customer chooses an alternative electric supplier, they will continue to receive their bill from Atlantic City Electric, who remains the customer’s electricity delivery company and who is still responsible for the maintenance and management of the lines and wires throughout the southern New Jersey Electricity grid.

See offers from competitive New Jersey Electricity Companies Below:

Seven years after New Jersey officially deregulated their electricity market, residences of the state are finally seeing competitive electric rates that can save them real dollars off of their monthly electric bill.

If you are a customer of PSE&G, JCP&L, Rockland Electric, or Atlantic City Electric, savings can be found by shopping the competitive electricity market for lower prices.  Alternative electric suppliers had been slow to enter the New Jersey market for a variety of reasons.  However, a significant drop in wholesale electric prices combined with high utility default rates, have given electricity companies a great reason to get licensed by the state and market their services and rates to New Jersey customers.

Residential customers can choose between a variable electric rate that can fluctuate month to month but gives the customer the option to leave the service at any time, or a fixed electric rate that locks in your rate for a specific period of time, usually anywhere from 4-24 months.

Here are the residential electricity rates available in New Jersey at this time:
PSEG Rates

JCPL Rates

Atlantic City Electric Rates

Some of the companies are running introductory offers with cashback bonuses.

For a low variable rate with a $50 Cashback Bonus introductory offer, click here.
Low fixed rate offers with a Visa Prepaid card up to $75 can be found here

In most cases, including the offers above, even after you switch electric suppliers you will still get your monthly electric bill from your utility company.  The utility companies (PSEG, JCPL, Rockland, Atlantic City Electric) are still regulated lines and wires company and are responsible for billing residential electric customers.  They only provide a default electric rate to residential customers because they are required to do so by the state under the terms of the New Jersey Competition and Electric Choice Bill.

Lower electric rates are available for Atlantic City Electric (ACE) customers who are on the utility’s default price to compare rate.  Commercial and industrial electric customers can save a modest 10-15% off their current rates by signing a fixed contract rate with a competitive alternative electric provider.

Depending on the rate class and usage patterns, ACE business customers are currently paying a default rate between 10.77-12.15 cents per KWh http://www.atlanticcityelectric.com/business/choice/nj/compare/.

Competitive rates in the region are being locked in for 12-36 month terms at rates as low as 9.7 cents per KWh.  Shorter term contracts are also available for those consumers who want to save money right away in the summer, but wish to wait and see where the long term default rates are heading.

South New Jersey electric customers can save money on their electricity bills by getting off of the high default rates and shopping the competitive market.

Contact us for more information about electricity deregulation.

On June 1, new summer default rates went into effect for all New Jersey customer s being serviced by JCPL (Jersey Central Power & Light) who are still on the utility’s price to compare default rate.

While residential competitive electric providers remain limited in the state, there are roughly two dozen competitive electric suppliers offering lower rates for commercial and industrial customers compared to the JCP&L default price to compare rate.  Business customers in the GS rate class will pay a rate of $0.115462 from June through September of 2010, and then pay $0.110205 from October 2010 through May 2011.  Current fixed competitive electric rates in the area are in the low $0.10s per KWh resulting in savings for most businesses between 8-14%.

Default rates in JCPL are derived from auctions the utility performs in previous years for the current year.  Due to lower natural gas prices, current market rates for electricity are lower than the current default rates resulting in saving opportunities for businesses.

For more inf0rmation on Jersey Central Power and Light competitive rates, please leave a comment or send an email.

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.

Southern New Jersey commercial and industrial customers can now see significant savings on their electric bills if they choose to shop the competitive market for an alternative supplier.  Savings as much as 22% off of the basic generation service default rates have been achieved for many businesses.

Many customers on the MGS and AGS rate classes continue to pay the ACE default rates that are over 12 cents per KWh.  Current fixed rates can be locked in for 12 month terms as low as 10 cents per KWh.  While many businesses are starting to become wise to deregulation, the majority of ACE customers are still unaware or confused about the savings available.  We encourage all businesses in the ACE utility service area to shop for a competitive supply contract.

Update:  12/23/2010

Atlantic City Electric residential electricity customers can save 22% off of their default rate with a variable rate and $50 Cash back bonus by going here

Fixed electric rates with savings between 15-22% (plus up to $75 Visa Prepaid Card) can be found here