Starting June 1, 2025, electricity rates across New Jersey will rise, and that could lead to significantly higher utility bills for many households. With the cost of groceries, gas, and housing already on the rise, this added utility expense will hit many households especially hard.
Let’s break down what’s happening, how it might affect your monthly budget, and how PosiGen can help you take more control of your energy costs.¹
¹ Rates may go up or down and the money you may save, if any, may vary. Past data may not be a good gauge of future results. For more information about rates, contact your power company.
The New Jersey Board of Public Utilities (NJBPU) just approved electric rate hikes of 20%, depending on your utility provider. That’s a big jump, especially when you consider that these costs are passed directly to you, the customer; utility companies do not make a profit from this increase. A number of New Jersey’s largest energy companies—including Atlantic City Electric (ACE), Jersey Central Power & Light (JCP&L), PSE&G, and Rockland Electric (RECO)—are expected to participate in the upcoming rate adjustments.
This increase is due to a variety of factors, including:
Let’s say your household uses about 650 kilowatt-hours (kWh) per month—pretty typical in New Jersey. Here’s how your monthly bill could change:
|
Utility Company |
Current Bill |
Increase |
New Monthly Bill |
|
ACE |
$162.60 |
+$28.02 |
$190.62 |
|
JCP&L |
$112.25 |
+$22.67 |
$134.92 |
|
PSE&G |
$155.84 |
+$26.87 |
$182.71 |
|
RECO |
$140.16 |
+$25.48 |
$165.64 |
That’s an additional $22.67 to $28.02 per month, or approximately $272 to $336 more per year, depending on where you live.
While everyone will feel these increases, working families and those in underserved communities will carry the heaviest burden.
Many households already spend a large portion of their income on energy. For these families, a surprise jump in monthly utility costs can mean tough trade-offs—less money for food, medicine, or transportation.
At PosiGen, we believe everyone deserves access to affordable, clean energy, not just those with perfect credit or high incomes. That’s why we offer a simple solar lease designed to help families save money², without the barriers that usually come with going solar.
Here’s how we’re different:
By going solar with PosiGen, you can lock in a predictable monthly payment and reduce your dependence on volatile utility rates.⁴
² Savings vary depending on your energy consumption, home location and characteristics, and your utility’s policies.
³ During the first 12 months after the date your system is operational, we guarantee that your post-solar electricity costs will be less than your pre-solar electricity costs. If your post-solar electricity costs are greater than your pre-solar electricity costs during that 12-month period, PosiGen will either (1) provide a bill credit representing the difference between your pre-solar and post-solar electricity costs, or (2) provide additional energy efficiency services at no cost. See Residential Solar System Lease Agreement for full terms & conditions.
⁴ Utility rates and utility rate structures are subject to change. These changes cannot be accurately predicted. Projected savings from your distributed energy generation system are therefore subject to change.
June 1st might seem far off, but the best time to take action is before the rate hike hits your bill. By going solar now, you’ll be in a better position to start saving⁵ money when others are just starting to feel the pinch.
Visit the New Jersey Rate Hike Calculator page today to see if your home qualifies. We’ll help you understand your savings and make going solar simple.
⁵ Energy savings vary depending on environmental factors, size, and occupancy of household.