Compare New Jersey electricity rates and plans (March 2025)

What to know about electricity rates in New Jersey

• The average New Jersey electricity rate is 19.02 cents per kWh while the average national rate is 16.06 cents
• The cheapest electricity rate is 10.91 cents per kWh for New Jersey residents
• New Jersey's deregulated electricity market includes 170 providers

Best New Jersey electricity rates

New Jersey electricity rates range from 10.91 cents to 24.16 cents per kWh. The rates you find vary depending on the providers and plans available to you, and comparing companies is the best way to find better rates. Below are some rates from popular electric companies in New Jersey.

Because New Jersey has a deregulated electricity market, you have the flexibility to shop around for a cheaper electricity bill. Many states don't offer this choice. If you're looking to reduce your energy bill, consider switching to a different provider or plan. New Jersey electricity providers offer different types of plans for residents and businesses to satisfy a range of needs.

Average cost of electricity in New Jersey

According to our data, the average electricity rate in New Jersey is 19.02 cents per kWh. This equates to an average residential bill of $123.19 per month. The national average rate is 16.06 cents per kWh, and New Jersey ranks as the 40th lowest priced state in the nation.

Since the average price is 19.02 cents per kWh or $123.19 per month for residential electricity, prices lower than these can be considered affordable. Electricity rates in New Jersey depend on your home size and usage, so the kWh rate is more useful when comparing your rate to the average.

Best electricity plans

In New Jersey, the best electricity plans provide competitive rates, renewable energy options, and fixed or variable pricing. Top providers offer reliability, transparency, and customer incentives so you can save money and enjoy responsive support.

We've analyzed the prices, terms, and conditions of popular New Jersey electricity plans. Below are our picks for the best residential plans in the state.

Provider	Contract Term	Rate	Plan
	12 months	10.99¢/kWh	See Plan
	12 months	10.99¢/kWh	See Plan
	12 months	11.09¢/kWh	See Plan
	18 months	11.59¢/kWh	See Plan
	18 months	11.59¢/kWh	See Plan
	24 months	11.69¢/kWh	See Plan
	32 months	11.98¢/kWh	See Plan
	36 months	11.99¢/kWh	See Plan
	36 months	12.19¢/kWh	See Plan
	12 months	12.79¢/kWh	See Plan
	12 months	12.89¢/kWh	See Plan
	12 months	12.99¢/kWh	See Plan
	18 months	12.99¢/kWh	See Plan
	36 months	13.29¢/kWh	See Plan
	6 months	13.60¢/kWh	See Plan
	18 months	13.67¢/kWh	See Plan
	24 months	13.79¢/kWh	See Plan
	12 months	13.87¢/kWh	See Plan
	18 months	13.91¢/kWh	See Plan
	12 months	14.19¢/kWh	See Plan
	32 months	14.19¢/kWh	See Plan
	36 months	14.39¢/kWh	See Plan
	24 months	14.51¢/kWh	See Plan
	6 months	14.55¢/kWh	See Plan
	12 months	14.59¢/kWh	See Plan
	12 months	14.69¢/kWh	See Plan
	18 months	14.79¢/kWh	See Plan
	12 months	14.82¢/kWh	See Plan
	18 months	14.86¢/kWh	See Plan
	18 months	15.13¢/kWh	See Plan
	36 months	15.19¢/kWh	See Plan
	24 months	15.46¢/kWh	See Plan
	24 months	15.80¢/kWh	See Plan
	32 months	15.99¢/kWh	See Plan
	1 months	16.15¢/kWh	See Plan
	36 months	16.39¢/kWh	See Plan
	1 months	17.11¢/kWh	See Plan
	6 months	18.20¢/kWh	See Plan
	12 months	19.10¢/kWh	See Plan
	6 months	19.16¢/kWh	See Plan
	18 months	19.27¢/kWh	See Plan
	24 months	19.64¢/kWh	See Plan
	12 months	20.06¢/kWh	See Plan
	18 months	20.23¢/kWh	See Plan
	24 months	20.60¢/kWh	See Plan
	1 months	21.39¢/kWh	See Plan
	1 months	22.34¢/kWh	See Plan
	12 months	63.9¢/kWh	See Plan
	12 months	64.9¢/kWh	See Plan
	12 months	64.9¢/kWh	See Plan
	12 months	67.9¢/kWh	See Plan
	12 months	68.9¢/kWh	See Plan
	12 months	69.9¢/kWh	See Plan
	18 months	71.9¢/kWh	See Plan
	12 months	74.9¢/kWh	See Plan
	18 months	74.9¢/kWh	See Plan
	36 months	74.9¢/kWh	See Plan
	12 months	74.9¢/kWh	See Plan
	12 months	75.9¢/kWh	See Plan
	18 months	75.9¢/kWh	See Plan
	36 months	77.9¢/kWh	See Plan
	36 months	79.9¢/kWh	See Plan
	36 months	81.9¢/kWh	See Plan
	12 months	85.9¢/kWh	See Plan
See All Plans

Compare New Jersey electricity providers

There are 60 electricity providers in New Jersey. While some providers only serve specific areas, you have multiple options for electricity wherever you are. Different providers can offer different specials, plan types, and sales throughout the year. However, always read the fine print of the energy plans you consider to avoid hidden penalties.

Business electricity rates in New Jersey

Commercial rates are typically cheaper than residential rates in New Jersey because businesses consume much more energy than homes on average. Businesses basically get a volume discount on electricity since they use so much. Our data shows the average business in New Jersey pays 15.02 cents per kWh for electricity and has an average bill of $45,564 per month.

Finding ways to reduce overhead costs is essential as a business owner. You have the opportunity to do that in a deregulated electricity market. Even reducing your electricity by one or two cents per kWh can make a huge difference when you have a high monthly bill. Compare commercial electricity rates to find the plan that makes the most sense for your business.

Best commercial electricity plans

Below are the top commercial electricity plans in New Jersey.

Provider	Contract Term	Rate	Plan
	2 months	8.330¢/kWh	See Plan
	3 months	8.333¢/kWh	See Plan
	3 months	8.403¢/kWh	See Plan
	2 months	8.416¢/kWh	See Plan
	1 months	8.582¢/kWh	See Plan
	4 months	8.649¢/kWh	See Plan
	4 months	8.661¢/kWh	See Plan
	1 months	8.679¢/kWh	See Plan
	12 months	8.906¢/kWh	See Plan
	6 months	8.990¢/kWh	See Plan
	3 months	9.080¢/kWh	See Plan
	2 months	9.095¢/kWh	See Plan
	2 months	9.122¢/kWh	See Plan
	18 months	9.132¢/kWh	See Plan
	3 months	9.147¢/kWh	See Plan
	12 months	9.150¢/kWh	See Plan
	12 months	9.199¢/kWh	See Plan
	3 months	9.218¢/kWh	See Plan
	12 months	9.219¢/kWh	See Plan
	1 months	9.242¢/kWh	See Plan
	1 months	9.247¢/kWh	See Plan
	24 months	9.265¢/kWh	See Plan
	5 months	9.325¢/kWh	See Plan
	18 months	9.330¢/kWh	See Plan
	1 months	9.334¢/kWh	See Plan
	24 months	9.342¢/kWh	See Plan
	5 months	9.360¢/kWh	See Plan
	12 months	9.367¢/kWh	See Plan
	30 months	9.414¢/kWh	See Plan
	24 months	9.420¢/kWh	See Plan
	36 months	9.441¢/kWh	See Plan
	18 months	9.445¢/kWh	See Plan
	6 months	9.483¢/kWh	See Plan
	36 months	9.494¢/kWh	See Plan
	30 months	9.500¢/kWh	See Plan
	12 months	9.500¢/kWh	See Plan
	2 months	9.500¢/kWh	See Plan
	4 months	9.518¢/kWh	See Plan
	4 months	9.525¢/kWh	See Plan
	24 months	9.534¢/kWh	See Plan
	48 months	9.550¢/kWh	See Plan
	6 months	9.560¢/kWh	See Plan
	42 months	9.568¢/kWh	See Plan
	18 months	9.583¢/kWh	See Plan
	12 months	9.623¢/kWh	See Plan
	24 months	9.650¢/kWh	See Plan
	54 months	9.651¢/kWh	See Plan
	15 months	9.651¢/kWh	See Plan
	11 months	9.661¢/kWh	See Plan
	60 months	9.672¢/kWh	See Plan
	10 months	9.674¢/kWh	See Plan
	18 months	9.677¢/kWh	See Plan
	14 months	9.677¢/kWh	See Plan
	16 months	9.677¢/kWh	See Plan
	6 months	9.682¢/kWh	See Plan
	13 months	9.718¢/kWh	See Plan
	12 months	9.719¢/kWh	See Plan
	36 months	9.750¢/kWh	See Plan
	12 months	9.751¢/kWh	See Plan
	30 months	9.776¢/kWh	See Plan
	18 months	9.788¢/kWh	See Plan
	2 months	9.793¢/kWh	See Plan
	17 months	9.808¢/kWh	See Plan
	9 months	9.814¢/kWh	See Plan
	3 months	9.831¢/kWh	See Plan
	3 months	9.847¢/kWh	See Plan
	1 months	9.871¢/kWh	See Plan
	12 months	9.873¢/kWh	See Plan
	36 months	9.886¢/kWh	See Plan
	24 months	9.888¢/kWh	See Plan
	12 months	9.889¢/kWh	See Plan
	30 months	9.890¢/kWh	See Plan
	3 months	9.910¢/kWh	See Plan
	48 months	9.920¢/kWh	See Plan
	2 months	9.924¢/kWh	See Plan
	6 months	9.927¢/kWh	See Plan
	42 months	9.928¢/kWh	See Plan
	24 months	9.950¢/kWh	See Plan
	2 months	9.960¢/kWh	See Plan
	2 months	9.963¢/kWh	See Plan
	22 months	9.972¢/kWh	See Plan
	1 months	9.973¢/kWh	See Plan
	15 months	9.978¢/kWh	See Plan
	18 months	9.982¢/kWh	See Plan
	23 months	9.994¢/kWh	See Plan
	16 months	10.001¢/kWh	See Plan
	21 months	10.011¢/kWh	See Plan
	8 months	10.017¢/kWh	See Plan
	54 months	10.017¢/kWh	See Plan
	18 months	10.019¢/kWh	See Plan
	60 months	10.020¢/kWh	See Plan
	4 months	10.034¢/kWh	See Plan
	6 months	10.034¢/kWh	See Plan
	14 months	10.034¢/kWh	See Plan
	6 months	10.035¢/kWh	See Plan
	3 months	10.049¢/kWh	See Plan
	42 months	10.050¢/kWh	See Plan
	48 months	10.054¢/kWh	See Plan
	24 months	10.055¢/kWh	See Plan
	20 months	10.069¢/kWh	See Plan
See All Plans

How to switch New Jersey electricity companies

While New Jersey's deregulated electricity market might seem complex, switching electricity providers involves a straightforward process that can help you save.

To switch providers, you'll need to:

• Verify your eligibility by confirming you're in a deregulated area
• Enter your ZIP code into comparison tools to find available suppliers
• Compare rates against your utility's Price to Compare (PTC)
• Review contract terms, including length and fees
• Select a plan and complete online enrollment

The switch typically takes effect within one to two billing cycles, and your new supplier handles all back-end changes.

You won't need to contact your utility company or worry about service interruptions.

When is the best time to switch energy providers in New Jersey?

The best times for switching include when your contract is approaching expiration or during low-demand seasons.

Consider these ideal switching periods:

• During moderate weather months (spring/fall) when energy demand is lower
• When your contract is within 30-60 days of expiration
• After checking price trends using comparison tools
• When regulatory changes create more competitive rates

Review your contract renewal dates regularly and monitor market conditions to secure better rates.

Avoid switching during peak demand periods, such as extreme summer or winter months, when rates typically surge.

How deregulated electricity works in New Jersey

Since New Jersey enacted electricity deregulation in 1999, you've had the power to choose your electricity supplier while your local utility handles the physical delivery of power.

Under this system, your electricity bill consists of two main components:

• Supply charges from your chosen provider or default utility
• Delivery charges from your local utility company

Four major utilities serve New Jersey residents:

• Public Service Electric and Gas (PSE&G)
• Jersey Central Power & Light (JCP&L)
• Atlantic City Electric
• Rockland Electric

If you don't select a third-party supplier, your local utility becomes your default provider through the PJM wholesale market.

Types of electricity plans in New Jersey

New Jersey residents can select from several types of electricity plans to match their energy needs and budgetary preferences. Each plan type offers distinct advantages and considerations.

Fixed-rate plans provide rate stability for 6 months to 3 years, helping you maintain predictable monthly bills.

Variable-rate plans offer flexibility without contracts but come with price fluctuation risks.

Time-of-use plans feature different rates based on peak (9am-9pm) and off-peak hours, allowing you to save by shifting energy usage.

Prepaid and no-deposit options let you manage costs upfront without credit requirements, though you'll need to monitor your balance regularly.

Compare New Jersey electricity rates

Compare New Jersey electricity rates to save money and avoid overpaying in the deregulated market. Your bill can vary greatly depending on the provider and plan structure. Take the time to read the fine print and do the math to figure out which is your best option.

New Jersey electricity rate FAQs