Atlantic City Electric Basic Generation Service Rates Approved

Below are the rates for the period noted.

Atlantic City Electric: Price to Compare starting June 1, 2015:

MGS-S: Monthly General Service Secondary 10.75
MGS-P: Monthly General Service Primary 9.04
AGS-S: Annual General Service Secondary 9.16
AGS-P: Annual General Service Primary 9.17
DDC: Direct Distribution Control 8.04
SPL/CSL: Street Lighting 5.93

 

New Jersey Electric Rates to Change

The NJ State Board of Public Utilities on Thursday approved the results of state’s annual electricity auction. It sets the wholesale electricity prices that the state’s electric utilities will pay and pass through to all New Jersey customers.

For three of the state’s four utilities, including Jersey Central Power & Light and Atlantic City Electric, there will be a  decrease in supply rates on June 1.  Rates for for PSE&G will be essentially the same.

Average JCP&L ratepayers will see a decrease of 3 percent; Atlantic City Electric customers will see a decrease of 5.35 percent and PSE&G customers will see their average rates increase by .05 percent.

The price of wholesale natural gas, which powers electric plants, is lower than in 2010. Since 2009, average energy costs for  small and medium-sized businesses have fallen about 30 percent, the BPU said.

But whether prices continue to fall in future years is unknown. “We have seen relative price stability in the last couple of years,” Hanna said. “What is going to happen in the future with natural gas prices is very difficult to predict.”  This is why fixed price contracts provide the opportunity to lock in long term fixed prices to protect from increases.

The value of both electricity auctions was about $7 billion, which represents approximately 8,700 megawatts of electric generating capacity.

New Jersey Electric Rates to Decrease June 1

The results of recent electric auctions for New Jersey has been published.  Effective June 1:

Atlantic City Electric customers will see a 2.84% rate decrease thanks to this auction.

Public Service Electric & Gas customers will see a 3.6% rate decrease.

But the biggest rate decrease related to this auction goes to customers of JCP&L who will see a rate decrease exceeding 6% once the new rates kick in on June 1st.

Please note that these rates are for a short time period.  Fixed price competitive electricity contracts will protect your price levels for the long term.