New Jersey Electricity Power Shopping Rises 9% in March

The NJ Board of Public Utilities reported a 9% increase in competitive shopping between February and March.  That number represented 43,742 more shoppers across the four IOU territories in the state and included both residential and C&I accounts.  That number is 43,750 more customers than the previous month.

Competitive Suppliers ended March with 523,799 accounts out of the 3,859,063 utility customers eligible to shop for power, giving them a 13.57% of the overall market.  That share rose 9.21% or 1.145 percentage points in the two-months being reported.  The use of electricity brokers and consultants makes the evaluation of supplier options much easier for businesses.  Part of the challenge is the time involved in contacting the many suppliers, comparing prices, which must be done on the same day, and evaluating the complex contracts.  Licensed brokers like Better Cost Control, being independent of suppliers, makes the process easy.

The Commercial and Industrial class statewide added 3,782 accounts for a 3.34% increase ending at 117,085 out of 505,281 eligible.  That 23.17% share of the market was up 3.43% or 0.769 percentage points in March from January.

On an annual basis, the Commercial and Industrial class statewide saw its shoppers grow 33.36%, adding 29,286 in the period.  With more than double the closest territory, the PSE&G territory saw the most new C&I shoppers at 16,710 for a 36.77% boost in accounts. The JCP&L territory saw the next largest C&I shopper growth year-over-year, adding 8,047 for a 29.18% boost.  That was followed by Atlantic City with 3,874 new C&I shoppers for a 28.09% increase.

Contact Better Cost Control at 617-332-7767 x150 to explore your competitive electricity options and speak with a licensed energy broker.