New Jersey Energy Supplier Rates

The average commercial electricity rate in new jersey is 12 08 kwh compared to the us national average of 10 27 cents per kilowatt hour.

New jersey energy supplier rates.

New jersey has been a deregulated since the new jersey public utility commission puc passed competitive opportunities case legislation in 1996 with the objective of having a competitive retail market by 1998. Last updated july 2020. Switching new jersey energy suppliers. The average residential electricity rate in new jersey is 16 14 kwh compared to the us national average of 12 75 cents per kilowatt hour.

In new jersey utility companies used to be the only option for energy users the utility controlled delivery pricing and maintenance. Hundreds of thousands of new jersey customers have switched suppliers and continue to switch to competitive nj electric or gas suppliers saving hundreds or thousands of dollars each year. Because new jersey residents tend to be more energy efficient they rank in the bottom half for average electricity bill at 106 28 per month. Today new jersey energy customers benefit from a diverse array of deregulated energy plans and products.

In 1999 new jersey moved to deregulate the state s electricity and gas thus separating the supply and delivery portions into two separate entities. Before deregulation the supply and delivery of energy were combined into one cost. In order to help new jersey customers save money on their energy bills as well as gain choice over their energy providers the state passed energy deregulation legislation in 1999. There are currently several offers to choose from including fixed rates variable rates and also renewable energy plans.

Energy choice also known as energy market deregulation allows new jersey business owners to choose their energy supplier and energy rate. The united states launched the energy policy act in 1992 to ensure residents and businesses had the power to choose their energy supplier.