New Jersey Electric Rates to explode in June 2025

TRENTON – The New Jersey Board of Public Utilities (NJBPU) today announced the results of New Jersey’s 24^th annual electricity auction for Basic Generation Service (BGS), resulting in higher costs for electricity supplied to most residents and small and/or medium-sized businesses by New Jersey’s four regulated Electric Distribution Companies (EDCs)…………………………..

The BGS auction determines, in part, the cost of electricity for most New Jersey residents and many businesses for a 12-month period starting June 1, 2025.  The NJBPU’s authority over the auction is limited to certifying the results as consistent with market trends and does not extend to influence pricing. Winning prices for all four EDCs increased compared to last year’s auction, with the average monthly bill projected to increase between 17.23% and 20.20% depending on the service territory.

Read the entire press release at State of New Jersey Board of Public Utilities

The bottom line is that effective in June 2025, the BGS (Basic Generation Service) rate which utilities companies charge for electricity will be going up about 20%. If your business or non-profit organization has not contracted with a different electricity supplier and with a flat rate, there is more reason now than ever to do so.