Residential rates by utility (EIA-861, average all-in ¢/kWh)
| Utility | 2023 ¢/kWh | 2024 ¢/kWh | Customers (2024) | Ownership | vs state avg, $/yr |
|---|---|---|---|---|---|
| Jersey Central Power & Light (JCP&L) | 14.00 | 15.65 | 964,802 | Investor-owned | -$379 |
| City of Vineland | 17.78 | 17.84 | 22,774 | Municipal | -$143 |
| Public Service Electric & Gas (PSE&G) | 18.83 | 20.42 | 1,966,950 | Investor-owned | +$136 |
| Rockland Electric (RECO) | 18.75 | 21.04 | 63,679 | Investor-owned | +$203 |
| Atlantic City Electric | 20.58 | 23.41 | 472,020 | Investor-owned | +$459 |
Average price = residential revenue ÷ residential sales from each utility's federal EIA-861 filing (bundled service — supply + delivery + riders, not a quoted tariff rate). State average = 19.16¢/kWh, volume-weighted across these utilities (2024). Your distribution utility is fixed by address; these gaps measure what households in different territories actually paid. A further 69 competitive suppliers / solar lessors report energy-only or behind-the-meter sales in New Jersey; their prices cover only part of the bill and are not comparable to the all-in figures above.
Can you choose your electric company in New Jersey?
Electric supply choice: yes · Gas supply choice: yes
Both electric and gas choice (EDECA 1999). Dual-fuel default utility: PSE&G (Public Service Electric & Gas). Default electric supply (BGS) bought in annual statewide auctions — 2026 BGS-RSCP clearing prices, effective 2026-06-01 (3-yr tranches): PSE&G 10.938 c/kWh, JCP&L 11.327, ACE 11.275, RECO 12.057. Customer price-to-compare blends the three latest auction vintages + reconciliation + SUT; published per-EDC by NJ BPU (njpowerswitch.com). Gas price-to-compare = BGS-GSS $/therm per gas utility (NJNG, ETG, SJG, PSE&G).
How to switch suppliers in New Jersey (3 steps)
- Find the price to compare (default supply rate) on your utility bill — you only save when an offer beats it for the same period.
- Compare licensed supplier offers on the state's official shopping site: nj.gov/njpowerswitch. Check term, early-exit fees, and whether the rate is fixed or variable.
- Sign up with the supplier — they handle the switch. Your utility still delivers the power, owns the wires, and responds to outages; only the supply line of the bill changes.
Heating: which fuel is cheapest per million BTU in New Jersey?
| Fuel | Native price | As of | $ per MMBTU |
|---|---|---|---|
| Utility natural gas | $1.341 /therm | Feb 2026 | 13.41 |
| Propane | $3.821 /gal | Mar 30, 2026 | 41.78 |
| Heating oil (No. 2) | $5.838 /gal | Mar 30, 2026 | 42.15 |
| Electricity (resistance) | 23.12 ¢/kWh | Feb 2026 | 67.76 |
Utility natural gas is the cheapest heating fuel in New Jersey at $13.41/MMBTU — heating oil costs 3.1× as much per BTU. Conversions: 1 kWh = 3,412 BTU; 1 therm = 100,000 BTU; heating oil 138,500 BTU/gal; propane 91,452 BTU/gal. Site-energy prices — appliance efficiency changes delivered-heat cost: a 95% AFUE gas furnace delivers heat near the gas figure, while a heat pump at seasonal COP 2.5–3 cuts the effective electric figure by 60–70%.
Electricity price trend, last 12 months
New Jersey's average residential price went from 19.70¢/kWh in Feb '25 to 23.12¢/kWh in Feb '26 — up 17% year-over-year. The 12-month peak was 25.32¢ in Jul '25.
| Month | Feb '25 | Mar '25 | Apr '25 | May '25 | Jun '25 | Jul '25 | Aug '25 | Sep '25 | Oct '25 | Nov '25 | Dec '25 | Jan '26 | Feb '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ¢/kWh | 19.70 | 19.87 | 20.15 | 20.48 | 24.88 | 25.32 | 24.95 | 23.39 | 22.55 | 22.73 | 22.98 | 23.13 | 23.12 |
Head-to-head utility comparisons in New Jersey
- Public Service Electric & Gas (PSE&G) vs Jersey Central Power & Light (JCP&L) — who's cheaper?
- Public Service Electric & Gas (PSE&G) vs Atlantic City Electric — who's cheaper?
- Public Service Electric & Gas (PSE&G) vs Rockland Electric (RECO) — who's cheaper?
- Jersey Central Power & Light (JCP&L) vs Atlantic City Electric — who's cheaper?
- Jersey Central Power & Light (JCP&L) vs Rockland Electric (RECO) — who's cheaper?
Questions people ask
- Who has the cheapest electricity in New Jersey?
- Jersey Central Power & Light (JCP&L), at an average 15.6 cents per kWh for 2024 among New Jersey utilities with at least 50,000 customers (EIA-861). The most expensive, Atlantic City Electric, averaged 23.4 cents — a difference of about $839 per year at 10,800 kWh.
- Can I choose my electric company in New Jersey?
- You cannot choose the utility that delivers power — that is set by your address. New Jersey does allow residential supply choice: you may buy the supply portion from a licensed competitive supplier if it beats your utility's price to compare. The official shopping site is nj.gov/njpowerswitch.
- Is gas or electric heat cheaper in New Jersey?
- Per million BTU of site energy, utility natural gas was $13.41 (Feb 2026) versus $67.76 for electric resistance heat, $42.15 for heating oil. A heat pump delivering 2.5-3 units of heat per unit of electricity brings electric heating to roughly $23-27 per MMBTU.
- What is the average electric bill in New Jersey?
- At New Jersey's February 2026 average price of 23.12 cents/kWh and typical usage of 900 kWh per month, a household pays about $208 per month ($2497 per year) for electricity. Actual bills vary with usage, utility territory, and tariff.