New Jersey commercial electricity rates

Analyst note

The New Jersey commercial price sat above the U.S. average in 10 of 10 years; the gap was +2.15 ¢ in 2015 and +1.89 ¢ in 2024. In the 2024 ranking New Jersey sits between District of Columbia (17.07 ¢) one place above and Michigan (14.01 ¢) one place below; the top of the list is 23.54 ¢ away and the bottom 7.45 ¢. New Jersey was 10th in 2015 with 12.79 ¢ and is 12th now; a fall in the table. New Jersey commercial prices rose in 7 of 9 years. The largest rise was +8.4% in 2022, and the largest fall -4.1% in 2016. The New Jersey price peaked at 14.64 ¢ in 2024 and bottomed at 12.21 ¢ in 2018; 2024 is the peak and +19.9% from the low. Compounded, that is +1.51% a year in New Jersey, -0.52 points against the U.S. New Jersey buys 2.56% of all U.S. commercial electricity with 2.77% of the accounts, so the average New Jersey account uses 0.92 times the national average.

New Jersey commercial customers paid 14.64 ¢ in 2024, which puts the state 12th of 51, a middle position, 1.89 ¢ over the U.S. Nine years moved the New Jersey commercial price +14.5% (+1.5% a year), behind the U.S. by 5.4 points. The sharpest year was 2022 at +8.4%; the peak came in 2024.

The latest New Jersey year moved +4.6%, so prices are still climbing. The New Jersey residential price of 19.34 ¢ sits 4.70 ¢ above. A New Jersey commercial account uses 5,721 kWh a month; priced at 14.64 ¢ that is about $838, and the sector buys 50.4% of New Jersey's power.

Counting revenue instead of kWh, New Jersey commercial accounts bring in 45.5% of New Jersey sector revenue on 50.7% of the kWh, a discount of 5.2 points that comes from the price level: 14.64 ¢ here against 19.34 ¢ for residential and 11.93 ¢ for industrial accounts. The average New Jersey commercial account uses 5,721 kWh a month, 23 of 51 among states on that measure; a residential account uses 0.12 times as much and an industrial account 8.22 times. Commercial accounts are 12.60% of the 4,287,110 accounts in New Jersey.