New Jersey Electricity Prices

New Jersey's residential electricity rate stands at 24.61¢/kWh as of August 2026, ranking it the 10th most expensive among the 50 states and DC. This is 6.45¢/kWh above the national average of 18.16¢/kWh, a difference of 35.5%. Among its neighbors, New Jersey is cheaper than New York at 28.65¢/kWh but considerably more expensive than Pennsylvania at 21.77¢/kWh and Delaware at 18.70¢/kWh.

Over the past five years since August 2021, the rate has risen 46.9%, climbing from 16.75¢/kWh. The twenty-year change since August 2006 shows an even steeper trajectory, with rates up 66.8% from 14.75¢/kWh. Since records began in January 2001 at 9.62¢/kWh, the residential rate has more than doubled, increasing 155.8%. The recent trajectory peaked in July 2025 at 25.32¢/kWh, New Jersey's all-time high, while the state's lowest recorded rate was 9.34¢/kWh in February 2001. Year over year, rates have edged down 1.4%.

New Jersey's average monthly residential bill is $160 on 675 kWh of usage, slightly above the national average bill of $158 despite significantly higher rates. This reflects the state's below-average consumption; nationally, households use 876 kWh monthly. Commercial rates stand at 18.71¢/kWh and industrial rates at 16.24¢/kWh.