New Jersey Electric Bills Remain Stable This Summer

Customers to see additional bill credits as state touts affordability push

Published on Feb. 12, 2026

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New Jersey's electric bills will stay largely stable this summer, with some PSEG customers even seeing small reductions, following a recent auction aimed at controlling utility costs. The New Jersey Board of Public Utilities certified the results of the 25th annual Basic Generation Service auction, which helps determine what utility companies pay for electricity supply on behalf of customers. Governor Mikie Sherrill touted the auction results as a win for affordability, though electric costs in the state remain painfully high.

Why it matters

Electricity costs have been a major concern for New Jersey residents, with the state's property tax bills reaching all-time highs. Governor Sherrill made affordability a key campaign issue, and her administration's efforts to cap prices through the PJM regional grid operator appear to be helping stabilize rates, even if costs remain high overall.

The details

The BPU said a temporary 'price collar' adopted last year helped prevent sharper spikes in electricity rates. Sherrill's executive order also directs the BPU to provide Residential Universal Bill Credits to offset supply increases beginning with the June billing cycle. While a third of residential supply for the next three years was locked in through this auction, the remaining supply was already secured in prior years.

  • The new electric rates will take effect on June 1, 2026.
  • The BPU certified the results of the 25th annual Basic Generation Service auction on February 12, 2026.

The players

New Jersey Board of Public Utilities

The state agency that regulates public utilities, including electricity providers, and certified the results of the recent auction to determine electricity supply costs.

Governor Mikie Sherrill

The current governor of New Jersey who made affordability a key campaign issue and has taken steps to try to control rising electricity costs, including issuing an executive order to provide bill credits to offset supply increases.

PJM

The regional grid operator that oversees the wholesale electricity market serving New Jersey and other Mid-Atlantic states. Sherrill's administration has been working to implement price caps through PJM to help control electricity costs.

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What they’re saying

“Affordability is my top priority. The recent auction results demonstrate that the fight to implement price caps at PJM is working to keep electricity costs from further skyrocketing.”

— Governor Mikie Sherrill (nj1015.com)

What’s next

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The takeaway

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