LAKEWOOD, N.J. — As New Jersey politicians continue to push for electric cars, electric heat, electric lawnmowers and electric stoves, one of the major providers of electricity has announced an enormous rate hike this summer,.
Customers of Jersey Central Power & Light (JCP&L) will see a significant increase in electricity supply prices beginning June 1, according to a notice from the company. The change, driven by market conditions including lower supply and higher demand, will result in an estimated 19.9% increase for an average residential customer using 777 kWh per month.
The increase stems from the New Jersey Board of Public Utilities’ (BPU) Basic Generation Service (BGS) auction, which determines electricity supply prices for all state distribution companies.
JCP&L does not generate electricity but delivers it to homes and collects supply costs without markup.
Customers who do not select an alternative supplier automatically receive electricity at the BGS price.
JCP&L encourages customers to explore cost-saving options, including shopping for competitive third-party energy suppliers, enrolling in budget billing through the Equal Payment Plan (EPP), and using the company’s Analyze Usage tool to manage consumption. Assistance programs are also available for eligible customers facing financial hardship.
With a nearly 20% rate increase set to take effect, JCP&L customers are urged to consider alternative suppliers and energy-saving measures to mitigate higher costs.