JCPL customers can now choose between a variety of power companies to supply their homes and business with cheaper and greener electricity. New Jersey energy choice gives consumers the ability to shop and compare electricity rates between multiple competitive power companies while still receiving the power from their trusted local utility company.
The role of JCPL in the new New Jersey competitive electricity market is to just deliver power and keep the power lines and wires reliable. They also continue to send the monthly electricity bill to their customers. JCPL does not benefit from customers who do not shop for competitive electric rates and pay the state default basic generation rate. The money earned from default supply rates (generation and transmission charges) are passed through JCPL to energy companies who have won previously held auctions for the right to service default paying customers.
Do to this change in law, JCPL actually encourages their consumers to shop for the lowest electricity rates; they want their customers to compare power companies who are offering service in the JCPL territory. Competitive JCPL power companies can often offer rates that are substantially lower than the default rates because they are based on current market conditions, whereas the default rates were previously purchased up to three years prior when the energy markets were higher. Below are some of the current JCPL power companies offering competitive electric rates to New Jersey energy consumers.