Public Service Electric and Gas Company (PSEG) was originally named the Public Service Corporation when it formed in 1903 as the result of the merging of over 400 transportation, gas and electric companies. PSE&G is the largest subsidiary of PSEG – and is one of the largest combined power companies in the United States. Today PSE&G’s service area includes over 2600 square miles, ranging from Gloucester to Bergen counties. Within this service area, PSE&G serves over 300 communities, providing gas and electricity services to 1.8 million and 2.2 million customers, respectively.
In 1999, the New Jersey legislature created a deregulated energy policy giving PSE&G customers the opportunity to choose a competitive NJ electric supplier and/or NJ natural gas supplier. The main benefit to customers is that they can lower their electric and natural gas bills by choosing a competitive supplier that offers a lower rate for electricity or natural gas supply while the utility (PSEG) continues to deliver the power or gas to residents and businesses.
PSE&G customers can switch to one of many competitive NJ electric suppliers and NJ gas suppliers by simply comparing rates and enrolling with that supplier. As a customer who receives their supply from a competitive company, PSE&G will continue to send the same bill while simply reflecting the new supplier and rate a customer has chosen.
Electric deregulation has become an easy way to save money for New Jersey residents and businesses providing utility customers with the ability to shop for a competitive supplier and lower their NJ electric rate and NJ natural gas rate to save money each month.