Jersey City Electricity Rates
New Jersey electricity rates are some of the highest in the nation, about a third higher than what the average U.S. resident pays for electricity. Fortunately, homes and businesses in Jersey City are able to shop around for lower electricity rates offered by retail electricity providers in the area.
Since the early 2000’s, New Jersey has been open to ‘electric choice’, meaning that homes and businesses no longer have to pay for the supply portion of their electric service through the default utility, Public Service Electric & Gas (PSE&G). When customers make the switch to a retail electricity provider for electric supply, PSE&G will continue to deliver and service your home or business’s electricity with the same reliability as always. Not much changes besides a different electric rate on the monthly bill.
If you live in Jersey City and are considering making the switch from PSE&G or another retail electricity provider, learn more below.
Switch Jersey City Electricity Rates
There are three easy steps you can take to switch Jersey City electricity rates:
1. Use our Compare & Switch Tool
To make shopping easier for you, we’ve created a free Compare & Switch tool, located on the right side of this page. The tool identifies which retail electricity providers are available in Jersey City as well as their rates and plans. Just type in your zip code, click ‘Search’, and then select PSE&G as your utility. There’s no obligation to switch Jersey City electricity rates if you use the tool, but you may do so here.
2. Compare Jersey City Electricity Rates
Find the rate that you’re currently being charged for electricity by viewing your most recent PSE&G electric bill. The supply charge for PSE&G is found on the third page of the bill, below delivery charges. You’ll see your actual usage as measured by your most recent meter reading, expressed in kilowatt hours (kWh). Your usage is then multiplied by the rate, circled below, to determine your total supply costs.
- Fixed-Rates vs. Variable-Rates: Fixed-rate plans have one set rate that will not change for the duration of a contract. Variable-rate plans have fluctuating rates that vary along with wholesale market prices. Most customers are satisfied with fixed-rate plans, but the choice is yours.
- Long-Term vs. Short-Term Contracts: Contracts are available in for as little as 3 months or as long as 36 months. If you believe that PSE&G will decrease their default electricity rates in the near future, choose a shorter plan. If you believe that PECO’s rates will increase, choose a longer plan. Most customers opt for 6- to 24-month contracts.
- Switching Fees: A few providers will charge a small, one-time fee for switching.
- Incentives: Many providers offer incentives to do business with them. These incentives include sign-on bonuses, discounts on energy-related products and services, and hefty rewards programs where you can earn free electricity, cash-back, travel and shopping points, and other rewards.
- Renewable Electricity: If you are interested in receiving your electricity from renewable sources, rest assured that many providers are not offering Green plans with partial or 100% renewable electricity. Because the cost of renewable electricity has gone down, you’ll find that the pricing of many of these plans are still below the default electricity rate of PSE&G.
3. Switch Jersey City Electricity Providers
Once you’ve selected a retail electricity provider with the best rate and plan features for you, switching is easy. All you’ll need on hand is your PSE&G account information, found on a recent copy of your PSE&G bill.
You can conveniently switch by using the free Compare & Switch tool. Simply click on the provider and plan that you want, and fill out the online form. Otherwise, you can call the provider and ask to switch. Remember that the reliability of your electricity service will not change, since that is the responsibility of PSE&G, the utility.
PSE&G will continue to deliver the electricity to your home or business, send your monthly bill, and maintain all the wires and poles that deliver the electricity to your home or business. The only real change for you is a different rate on your monthly bill.