NJ Power Shoppers Find Savings

New Jersey power consumers are finding savings through the state’s electricity choice program.  Electric choice in New Jersey has brought in more than a dozen electric suppliers offering electricity rates to commercial and industrial customers over the last several years.  Now electricity suppliers are starting to offer residential rates in New Jersey.

NJ power shoppers who take the time to compare electricity offers are finding the best deals.  In addition to low electric rates that offer significant savings versus utility default rates, some electric suppliers are offering incentives and promotions to entice customers to switch.  Despite electric bill savings of over 20% in some cases, less than 8% of New Jersey residential electric customers have switched suppliers.

Those who have not switched continue to pay a high default rate with their local electric utility company – PSEG, JCPL, ACE, Rockland.  PSEG and JCPL have been pushing power shopping and choice to their customers to help spread the word.  Though New Jerseyans now have a choice of who supplies their electricity, the power continues to be delivered by the local utility companies.  PSEG, JCPL, Atlantic City Electric, and Rockland Electric do not lose the customer when they switch electric suppliers.  Instead, the utility company continues to bill the customer and charge regulated rates for power delivery.  The only thing that changes is that instead of paying the high default supply rate, the customer pays a competitive supply rate.  If that competitive rate is lower than the default rate, than the customer saves money on their electric bill.

Here are some current low power rates in New Jersey:
PSEG Rates



JCPL Rates



Atlantic City Electric Rates


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Orange and Rockland Electric Savings

Energy choice is becoming more attractive to residential customers of Orange and Rockland Electric in New York.  The New York utility company charges a default supply rate to its customers which changes on a monthly basis.  The default rate has been above 10 cents per KWh six out of the last nine months, causing electricity customers to look into competitive offers.

The Orange and Rockland price to compare average over the last 12 months is 9.858 cents as of March 2011.  From March 2010 to February 2011 this changing average had been above 10 cents.  Currently, a six month fixed competitive offer of 8.5 cents is available which also includes a promotional $75 visa gift card.  The 8.5 cent offer is a 14% savings versus the 12 month default average.  The idea of saving 14 percent on the electric bill is having a positive effect on electricity shopping in New York.

Unlike other deregulated electricity markets where price to compare default rates are fixed for several months, New York Orange & Rockland price to compare rates are variable and change monthly.  This has caused a slow transition for customers to shop and compare electric rates.  However, with recent data showing that electric default rates in New York have been significantly higher than competitive fixed electric market rates, customers are starting to warm up and welcome the idea of electricity choice.

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Cheapest Rates in Rockland Electric NJ

Residential customers of Rockland Electric in New Jersey can reduce the supply charges on their electric bill by 20% by going here.

Many customers of Rockland Electric, the smallest electricity utility in New Jersey, are unaware of electric choice in the state.  Due to its relatively low number of customers, very few electricity companies are offering competitive rates in the Rockland area.  However, due to recent market changes, the electric suppliers who have entered the market are able to offer low electric rates with that offer significant savings against Rockland Electric default rates.

Rockland Electric is a regulated electricity delivery company who serves customers in northern New Jersey.  They are required by the New Jersey Board of Public Utilities to offer a default generation rate for their customers.  Rockland Electric would prefer that all of their customers choose an alternative generation supplier so that they can focus on the management and reliability of the power lines and wires.

The cheapest electric rate that we were able to find for Rockland Electric customers is 9.7 cents versus the 12.15 default rate, a 20% savings.  The offer also includes a gift card up to a value of $75.

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Rockland Electric

Rockland Electric delivers electricity to just under 63,000 residences in northern New Jersey.  Though electricity choice has existed in New Jersey for several years, competitive electricity companies have just recently started offering competitive electricity rates in the Rockland Electric area.

Though, as of December 2010, only 1.8 percent of the residential customers have chosen an alternative electric supplier, Rockland Electric residential customers can save as much as 18% versus the Rockland default rates.  Rockland Electric offers default electricity rates for those customers who do not shop and compare electricity offers.

People have been slow to shop the competitive energy market in the area mostly because they are unaware of their choices.  Of the four incumbent electricity utility companies in New Jersey, Rockland Electric is by far the smallest.  Because of this, the competitive electricity suppliers are focusing more of their marketing efforts on the bigger utility areas of PSEG and JCPL, even though the greatest savings opportunities currently exist for Rockland customers.

It is expected that more and more Rockland Electric customers will shop for lower rates in 2011 as they become more familiar with their electricity choice options.

Rockland Electric Price to Compare – $0.1215
MxEnergy $0.097 /Kwh 20% Savings
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NJ Electricity Prices and Savings

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.

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