Electricity & Natural Gas Rates in New Jersey
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As a resident or business owner in the state of New Jersey, you have the power to choose where your electricity and natural gas supply comes from. As part of the New Jersey Energy Choice Program, residents and businesses can purchase their energy from a retail energy provider, or REP.
Energy prices in New Jersey could go up! Lock in a cheap electricity and natural gas rate today.
Energy is a commodity which is traded in the market like other commodity, depending on the demand its prices fluctuates. Don’t be caught off guard! Plan to shop at an off-peak time and protect yourself from any market fluctuation.
One of the first things to ask about is the pricing options the supplier offers. Generally, these options fall into two categories: Fixed and Variable plan
Fixed Rate Plan – A fixed rate plan allows you to pay the same rate for electricity/natural gas for the length of the plan, even if the market rate fluctuates giving you peace of mind. This plan normally involves a contract for the length of your choice, ranging from 3 to 36 months.
Variable Rate Plan – Variable rate plans allow your electric/natural gas rate to change from month to month based on fluctuations in the market.
If you choose not to switch to a deregulated energy plan, your utility will continue to supply your electric or gas at a default rate keep in mind, the default rate is likely to fluctuate with the natural rise and fall of energy prices. To compare, choose and save on energy rates from a third-party suppliers, simply Call the number on your screen or enter your ZIP code to get started.
Ever since the deregulation of the energy sector in the U.S started in 1992, it helped consumers to choose where their energy comes from. As of now, 16 U.S. states have introduced deregulated electricity market for the consumers giving them the power to choose between multiple energy partners. A deregulated energy plan offers competitive rates for electricity and natural gas as compared to the local Utility companies of the respective states
New Jersey deregulated their electric and natural gas industries in the late 1990s providing retail access to consumers who wanted to shop for new electric suppliers and lower their energy bills. In order for a competitive environment to develop, they required the utilities to unbundle their services and sell off their generation assets in order to purchase power on the wholesale market alongside their new competitors
New Jersey Energy Choice is a state program that allows utility customers to choose the company that generates your home or business’s electricity — also known as your electric supplier. This means that you have the power to choose to switch to a competing supplier that can offer the lowest price, best price or provide a specific service you want, such as green/renewable energy
Did you know New Jersey’s small and commercial business owners can save on their energy costs, too? Call the number on your screen or fill out this form (Make a Business form and link here) to speak with one of our experts about building a custom energy plan for your business.
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