New Jersey Electricity Rates (2026)
22.6¢/kWhstate average
39.7% above national averageUtilities in New Jersey
Individual utility data for New Jersey is coming soon. The state average residential rate is 22.6¢/kWh.
Rate Outlook for New Jersey
New Jersey's average residential electricity rate is currently 22.6 cents/kWh. Under EIA's reference scenario, rates are projected to reach 26.7 cents/kWh by 2031 and 30.4 cents/kWh by 2036, a 34.3% change. Under the high oil price scenario, rates could reach 31.7 cents/kWh.
EIA projections for New Jersey vs. actual observed rates
Projected residential electricity rates for New Jersey (next 10 years)
| Year | Reference (¢/kWh) | High Price | Low Price |
|---|---|---|---|
| 2026 | 25.1 | 25.3 | 24.9 |
| 2027 | 24.2 | 24.5 | 24.2 |
| 2028 | 24.5 | 24.8 | 24.6 |
| 2029 | 25.1 | 25.4 | 25.3 |
| 2030 | 25.8 | 26.1 | 26.0 |
| 2031 | 26.7 | 27.2 | 27.1 |
| 2032 | 27.5 | 28.2 | 27.8 |
| 2033 | 28.6 | 29.4 | 28.8 |
| 2034 | 29.4 | 30.2 | 29.5 |
| 2035 | 30.0 | 30.9 | 29.9 |
| 2036 | 30.4 | 31.7 | 30.4 |
Data Sources: U.S. Energy Information Administration — Annual Energy Outlook (AEO2010, AEO2015, AEO2020, AEO2025) and Monthly Energy Review.
Methodology: State-level projections are derived by applying national rate trends from EIA's Annual Energy Outlook to New Jersey's current observed rate. EIA does not publish state-level projections.
Freshness: This data is checked weekly against EIA's open data APIs. The Monthly Energy Review updates monthly with observed rates. The Annual Energy Outlook publishes new projections annually.