New Jersey Electricity Rates Surge 63.5% Since 2018, Outpacing National Average
What happened
New Jersey's average residential electricity rate climbed 63.5% between 2018 and July 2026, rising from 15.41 cents per kilowatt-hour to 25.19 cents per kilowatt-hour. This increase significantly outpaced the national average, which rose approximately 42.3% over the same period. The report notes that New Jersey's rates surged dramatically in 2025 following major electricity supply price increases.
From savejersey.com
Why it matters
The rapid increase in electricity costs in New Jersey, which the report links to Trenton's energy policies, places a substantial financial burden on households. The state is currently facing policy challenges concerning energy development and environmental health.
New Jersey is facing policy challenges concerning energy development and environmental health.
From savejersey.com
Who's involved
- New JerseyThe state where electricity rates and energy policies are being discussed
- Phil MurphyThe governor whose administration is linked to the energy policies in New Jersey
- Mikie SherrillA politician who critiques and holds the previous administration accountable for policy errors
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- PJM InterconnectionSpeculative
State capacity loss and demand growth could strain the regional power grid, raising costs.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- How could the Murphy administration's green energy agenda affect PJM Interconnection?Green energy push may increase operational costs and strain PJM's regional grid.Likely
- New Jersey's energy crisis may raise GEO Group's operating costsGEO Group may face higher operational costs due to New Jersey's energy crisisPossible
- Anchor may face higher costs from New Jersey's energy crisisAnchor may face higher operational costs due to New Jersey's rising electricity ratesPossible
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The entities involved
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New Jersey
state of the United States of America
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Phil Murphy
56th governor of New Jersey since 2018