New Jersey energy rates
New Jersey, along with several other states including New York, Massachusetts, and Texas, is a deregulated state. Energy deregulation gives customers the freedom to choose a default New Jersey electric company or third-party electric supplier.
New Jersey offers a variety of plans including fixed-rate, which offers the same supply rate throughout the year, and variable plans with the potential for different seasonal rates. Another factor of New Jersey energy is the energy contract length. Contracts can be as short as month-to-month or as long as three years. For customers interested in renewable energy, New Jersey’s renewable portfolio standard was updated in 2018 to require that 21% of the electricity sold in the state be generated from renewable sources by 2021.