Switching rate

A recent Philadelphia Inquirer article shows that New Jersey’s competitive market is creating economic benefits for all electricity consumers, as evidenced by the entry of three new major power suppliers into the market resulting in an exponential growth in the number of customers who have switched to power suppliers.
 
While switching among the state’s commercial and industrial (C&I) customers has become common in the state, switching rates among residential customers has skyrocketed in the last year. According to the article, approximately 213 residential customers had switched to discount suppliers in 2009, but that number now stands at more than 16,000 – and the figure has doubled since June.

New Jersey’s electricity market has experienced a recent influx of competitive power suppliers, benefiting both consumers and the environment. The state’s market has seen exponential growth in recent months – and consumers are jumping at the opportunity to competitively shop for their electricity supply.