New Jersey electricity and natural gas rates
Electricity
23.27¢
per kWh
Natural gas
$1.54
per therm
Residential sector, US Energy Information Administration, 2026-05. Updated monthly.
How New Jersey compares
At 23.27¢ per kWh, New Jersey is above the national average of 19.41¢, making it the 39th cheapest of the 51 states we track.
What a typical New Jersey household uses
Electricity a month
673 kWh
Bill a month
$160
Households in New Jersey use 22% less electricity than the national average and pay 7% more than average. That is a price problem rather than a consumption one — at 23.27¢ a kilowatt hour, even a modest amount of electricity adds up. The climate is fairly balanced — 4,900 heating degree days against 1,200 cooling ones — so neither season dominates the bill.
Averaged over twelve months across 3,813,215 residential accounts in New Jersey. Source: EIA.
What this means for heating
New Jersey sees around 100 freezing nights a year. Whether a heat pump beats a furnace here depends on the gap between those two prices above — not on the equipment.
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