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:
Atlantic City Electric Rates