New Jersey Energy Rates & Options
Despite being one of the tiniest states in the union, New Jersey is the home of the most people per capita, which means a high demand from its residential energy sector. New Jersey boasts a diverse energy portfolio. Oyster Creek Generating Station, the oldest functional nuclear power plant in the U.S. and one of three in New Jersey, operates in Forked River. Coupled with natural gas, these two resources make up most of the in-state energy generation. New Jersey has pushed the state toward a dependence on renewable energy, setting benchmarks for ambitious solar and wind commitments coming to fruition over the next few years.
Energy rates in New Jersey are historically some of the highest in the country. Though one of the country's smaller states, the stark division between the northern and southern halves has the potential to drive up the prices for those in rural areas because of the energy demand by those in metropolitan ones. Additionally, in the wake of Hurricane Sandy, utilities have pushed for grid improvements to sidestep another energy crisis. The costs of such a project might trickle down from transmission operators to retail energy providers, all the way down to New Jersey ratepayers.
Weighing the choices among different retail energy providers in New Jersey might help you find the best deal on your monthly rates. Compare XOOM's options for New Jersey natural gas and electricity rates and plans.