new jersey power

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.

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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

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