TRENTON – According to the New Jersey Board of Public Utilities, residential electricity customers can expect a small decrease in their monthly bills this summer because of the results of the state’s tenth annual electricity auction for Basic Generation Service.
A typical residential customer monthly bill in the Public Service Electric and Gas (PSE&G)’s service area, will see a drop from $122.57 per month to $118.30 per month, a 3.5 percent decrease. A typical bill in the Jersey Central Power and Light (JCP&L) territory will go from $119.32 per month to $113.79 per month, a 4.63 percent decrease.
“New Jersey’s competitive auction for electricity, along with relevant market conditions, has resulted in lower electricity costs for most residents and businesses across the state,” said Board President Lee Solomon. “While the auction results are good news for most ratepayers, the Board will continue to make every effort to drive ratepayers’ utility costs down and improve the State’s economic competitiveness.”
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