NJ Residential Customers See Higher BGS Rates

Basic Generation Service Hike Approved

BGS rates are rising 3-6% this summer. Find out how much that will cost you unless you shop low priced fixed electricity rates now! — The NJ BPU has approved raising the Basic Generation Service for all NJ utilties. If you’re on BGS, you’re going to pay LOTS more for your electrcity. Learn how you can save by shopping rates and plans instead!

New Jersey residents’ electricity bills will be rising this summer due to recent auction results. Depending on your area, you could see rate hikes of 3-6%. What does this mean for your summer electricity bills? Do you know what your price to compare is? Let’s see why NJ residential customers will see these higher BGS rates.

ACE Residents See BGS Rate Increase 4.1%

If you live in the Atlantic City Electricity service area, the current BGS rate is 11.22 cents per kWh. With the new rate increase, you could see rates around 11.68 cents per kWh. Based on an average 687 kwh used per month and including monthly distribution charges, this would raise bills from around $128.09 per month, to $131.25 per month. So, you’ll be paying nearly $40 extra per year on your electricity.

JCP&L Customers Will See 4.8% BGS Increase

Residents in the Jersey Central Power & Light service area will see their BGS rate go from 9.65 cents per kWh to around 10.10 cents per kWh. This would raise monthly bills by about $3 per month, or $36 per year. Consequently, your bills would be around $89.46 every month.

PSE&G Area To Get A 3.3% Increase

PSE&G customers will get the lowest increase from the auction results. A 3.3% increase means that rates will only jump from 9.65 cents per kWh, to 9.96 cents per kWh. This would raise bills to $95.36 per month to $97.48 per month. That’s only a $2.12 increase, or about $25 per year.

BGS Increase The Highest In Rockland Electric Territory

Unfortunately for those in the Rockland Electric territory, your rate will be going up the most. With an increase of 6.9%, bills will rise substantially from 10.80 cents per kWh to around 11.54 cents per kWh. This would increase monthly bills from $121 per month, to an average of $126.36 per month. That’s around a $5 increase, or $60 per year you’ll have to come up with.

Don’t Let High Bills Scare You

Now is the time to start shopping around for a new New Jersey electricity plan if you want to avoid these price hikes. With the spring shoulder months coming soon, you can grab some of the lowest rates of the year. Plus, there also some great tips and tricks to reduce your electricity usage to help save even more. To shop all the best plans, and find great deals in New Jersey, head over to www.njenergyratings.com