Brace Yourself, New Jersey! PSE&G Rate Hikes Coming in 2024 (But Don't Panic!)
Feeling the heat in your wallet, New Jersey homeowners? Brace yourselves, because PSE&G electric bills are about to jump in June 2024! But before you start stocking up on candles, take a deep breath – this blog is your ultimate guide to understanding the rate hikes, managing the impact, and discovering smart strategies to keep your energy costs under control.
Why the Hike?
Let's face it, nobody enjoys higher bills. The upcoming increase stems from the New Jersey Board of Public Utilities' (BPU) Basic Generation Service (BGS) auction, which determines the cost of electricity for most residents. While the exact impact varies, the average monthly bill for a typical PSE&G customer is expected to rise by 6.2%, translating to around $8.22 more per month.
Decoding the Numbers:
While the overall increase might seem daunting, understanding the breakdown can help you prepare. The BPU website offers detailed information on the BGS auction and its impact on different usage levels. Remember, knowledge is power!
Power Up Your Savings:
Just like a superhero, you have the power to fight back against rising energy costs! Here are some practical solutions to consider:
Embrace Efficiency: Swap those old incandescent bulbs for bright and energy-saving LEDs. Consider upgrading aging appliances to their more efficient counterparts. Even small changes can add up!
Thermostat Tactics: Program your thermostat wisely. A few degrees lower in winter and higher in summer can make a big difference. Plus, explore smart thermostat options for automated energy management.
Unplug the Phantoms: Did you know electronics drain energy even when "off"? Get in the habit of unplugging unused chargers, appliances, and devices. Every little bit counts!
Explore Financial Assistance: If you're facing financial hardship, PSE&G offers various payment assistance programs. Don't hesitate to reach out and inquire about eligibility.
Go Green, Save Green: If feasible, consider exploring renewable energy options like solar panels. While the initial investment might seem high, the long-term savings and environmental benefits can be significant.
Best Savings Solution:
So far the best solution we have discovered is going solar. With the companies we have partnered with and researched at Renewable Energy Movement, every homeowner is eligible for:
No upfront costs
Lowered & Fixed utility rates for the next 25 years, despite increases in PSE&G rates year after year.
Tax Incentives of up to 30%
Increases your home value
Warranty for 25 years
Transferrable to new homeowners if you decide to sell your home
That’s just some of the best solutions and savings for going solar with Renewable Energy Movement. Book an appointment with us today and I'm confident you'll walk away with valuable insights even if you decide solar isn't right for you right now.
Resources & Action:
Empower yourself with knowledge! Visit the PSE&G website for customer service options and payment assistance programs. The New Jersey Board of Public Utilities website also provides valuable information and opportunities to advocate for fair energy policies.
Remember, you're not alone in this. By implementing these tips and exploring available resources, you can navigate the upcoming PSE&G rate hikes and take control of your energy costs. Share this blog with your fellow New Jersey homeowners, and let's power up together!
