Residents living in Princeton, New Jersey have the power to choose an alternate electric supplier and lower the supply rate on the electric bill. Princeton electricity rates have become more competitive since New Jersey took steps to deregulate the electricity market in the late 1990s. The utility company will still be the supplier of last resort and will provide supply services to residents that decide not to change electric suppliers. However, thanks to energy choice, Princeton residents can save 10 to 25 percent simply by selecting another energy supplier.
The city of Princeton has a population of just over 30,000 and is located in central New Jersey 80 miles north of Atlantic City. The cold winters tend to increase the demand for energy during these months. Locking in a fixed rate will help protect against a rise in energy prices.
Princeton Utility Companies
Princeton is located in the PSEG utility service area. This means if you plan on moving to Princeton, then you need to set up the electricity account through PSEG. The main responsibility of the utility company is to maintain the lines and wires that deliver the electricity to its customers. Princeton residents will not be able to choose another utility company for their delivery services.
Princeton Power Outage
If you change electric suppliers and the lights go out, then you will still need to contact PSEG. PSEG is responsible for making sure the lights stay on within their service area. Thanks to better technology, potential power outages can be detected by the utility company and diverted before they can occur.
- PSEG Power Customer Service and Power Outage Number: 1-800-436-7734
Princeton Price to Compare
Along with delivering power to their customers, PSEG is required to provide a default rate for supply services to customers that do not select an alternate electric supplier. The default rate is variable and is commonly referred to as the price to compare. Customers can use the price to compare while shopping for energy suppliers to determine their savings.
Understanding the Electric Bill
While you can’t shop for another utility company for the delivery services, you can certainly choose another electric supplier for the supply services. Understanding how the electric bill is split up will make this process a little easier to understand. The electric bill has two sections that include the delivery and supply charge.
- Delivery Charge – The delivery charge represents the regulated section of the electric bill. This is the cost of delivering power to residents within the utility company’s service area. This charge is regulated by the New Jersey Board of Public Utilities.
- Supply Charge – The supply charge represents the deregulated section of the electric bill. This is the cost of generating power the customer is estimated to use during the term of the agreement. Deregulated energy markets allow the customer to select another electric supplier for the supply charges.
Renewable Energy Plans
Renewable energy is generated from renewable energy sources that are considered to be a cleaner alternative compared to conventional methods such as coal and oil. The most common forms of renewable energy sources are wind, solar, hydropower, and biofuels.
New Jersey is among many states that have implemented Renewable Portfolio Standards (RPS). The RPS is a set of regulations that require a set percentage of electricity sold in the state to be generated from renewable energy sources. This has created a renewable energy market that would not have existed without these regulations.
With a larger percentage of investments going towards renewable energy sources, more energy suppliers are now offering customers energy plans that are 100% renewable. If you sign up for one of these plans, then the number of kilowatt-hours you are estimated to use during the term of the plan will be generated from renewable energy sources and uploaded to the power grid.
Select an Electric Supplier
If you’re living in Princeton, then take advantage of energy choice! Shopping for a new electric supplier can save you in the long run. The energy market can be extremely volatile and staying on the utility company’s price to compare can be costly. Locking in a long-term energy plan will protect you in a fluctuating market.
With so many electric suppliers providing quality service in New Jersey, how do you know which one to select? Several websites compare energy suppliers. At electricrateselect.com, we strive to provide a platform that is transparent and easy for customers to use. We also have an excellent customer service team that can walk you through the steps and answer any questions. If you’re in the market and shopping for a new electric supplier feel free to out to us today!
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