Compare Electricity Rates in Newark

Newark’s population of 277,727 makes it the largest municipality in the entire state of New Jersey. Between its thriving restaurant scene, tourist attractions, and active nightlife, it’s clear that this is a city that needs a high-quality yet efficient supply of electricity. Where general electricity rates in Newark are concerned, people will likely find prices peaking in the summer around June, then dropping sometime around September. Electricity rates typically range between 17.00 to 19.00 cents per kilowatt-hour while natural gas rates range from 46.90 to 90.60 cents per therm.

The state of New Jersey began deregulating energy back in 1999. After a period of careful planning and analysis, the process was completed, and most consumers can now pick their own energy providers. By deregulating the energy market, New Jersey put the power back in the hands of the consumer. There’s no more paying more each month because there was only one utility company controlling the supply of electricity. Customers now have options. Clearly, the competition has been good for Newark energy prices as well. Put simply, energy choice in Newark just continues to get better.

It’s important to understand exactly how much deregulation has changed things. Before the market was deregulated, the sales, transmission and distribution of electricity were done by a single utility company. Now that the changes have taken effect, the same utility company distributes and transmits the energy, but there are different companies selling it to consumers. The wires company in Newark is Public Service Electric & Gas (PSEG). This is a utility company that services a broad area. Where consumers get more say is when it comes to choosing their energy suppliers. Between North American Power, TriEagle, Constellation, and more Choose Energy has partnered with the best energy providers in Newark.

With green energy accounting for a mere 1.2% of the state’s energy capacity, New Jersey’s still working towards increasing its renewable energy offerings. In light of New Jersey’s numerous renewable energy projects, however, residents can expect to see a move towards more green energy in the future. That being said, Newark-based green energy is still an option for residents who want to help the environment. Choose Energy has partnered with  YEP Energy for exactly this reason.