New Jersey Energy
New Jersey energy customers are starting to take advantage of electricity and natural gas deregulation. Residential customers in PSE&G, JCP&L, Atlantic City Electric, and Rockland Electric are finding lower electric rates than their utility basic generation service rates which serve as a default rate for consumers who choose not to shop for competitive rates.
Due to falling natural gas prices, energy customers are also locking in low fixed natural gas rates that give customers budget certainty, protecting them from potential increases in the natural gas market. Unlike electricity in New Jersey where competitive electric rates can guarantee electric bill savings, natural gas default rates change on a monthly basis. So choosing an alternative gas supplier is more of a risk hedging decision, as opposed to electricity where locking in a lower electric rate versus the utility default rate gives you instant savings. New Jersey electric default rates are established for one full year at a time.
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