New Jerseyans have the ability to choose energy suppliers. The question is: Should you?
New Jersey deregulated its energy market in 1999, allowing people to choose which companies generate the electricity that’s supplied to their homes. The idea behind the legislation was to introduce competition to the formerly monopolized energy market.
New Jerseyans haven’t exactly jumped on the opportunity: Only about 6% of residential customers switched in 2023.
“Not everyone bothers to take advantage of the opportunity to switch,” said Clinton Andrews, professor of urban planning and policy development at Rutgers University and director of its Center for Urban Policy Research (which has research contracts with the New Jersey Board of Public Utilities).
But for those with the patience to shop around between suppliers, a good deal could potentially be found (or at least a switch to renewable sources of energy). Read the full article to learn more about energy deregulation in New Jersey.