New Electric Rates Set For NJ: Here’s What Your Bill Will Look Like

The New Jersey Board of Public Utilities (NJBPU) completed their annual auction for Basic Generation Service (BGS) Thursday and the rates will impact bills for Garden State residents June 1.

Electric utility prices for most New Jersey residents will remain stable this summer, with rates slightly falling for some residents and rising for others depending on their provider.

Looking at the monthly impact on the average residential account, customers of PSE&G and RECO will see a decrease in their electric bill this summer, while customers of ACE and JCP&L will see an increase.

Increases

An average ACE customer using 650 KW with a current bill of $201.54 wil see an increase of $0.22(0.11 percent) with a new bill of $201.76.

An average JCP&L customer using 650 KW with a current bill of $135.24 wil see an increase of $2.23(1.6 percent) with a new bill of $137.47.

Decreases

An average PSE&G customer using 650 KW with a current bill of $183.46 wil see a decrease of $3.23(1.8 percent) with a new bill of $180.23.

An average RECO customer using 650 KW with a current bill of $170.10 wil see a decrease of $1.17(0.7 percent) with a new bill of $168.93.

These rates are in contrast to June 2025 when most of the state saw a 20 percent increase in electric prices.

State Of Emergency

Gov. Mikie Sherrill declared a state of emergency over the rising cost of electricity in New Jersey on her first day in office.

As part of her election campaign, Sherrill said she would issue a rate freeze in New Jersey on her first day as governor – putting the brakes on skyrocketing utility costs. The former congresswoman has also been pitching a plan to “massively expand” solar, battery storage and nuclear power.

"As wholesale markets continue to put pressure on energy prices, our top priority is keeping electricity affordable for New Jersey customers by using every available tool to keep costs down as directed by Governor Sherrill’s Executive Order No. 1," said NJBPU President Christine Guhl-Sadovy.

For ACE and JCP&L customers who will see an increase, the Executive Order offers some relief. It mandates that the NJBPU shall provide for Residential Universal Bill Credits (RUBCs) to offset increases in the cost of electricity supply scheduled to take effect on June 1.