States › New Jersey › May 2024
New Jersey electricity prices, May 2024
Average price, sales and bills for the month against the same month a year earlier and the US. Final
In May 2024, residential customers in New Jersey paid an average of 18.57¢ per kilowatthour, up 8.4% on the same month a year earlier (17.13¢). The US average for the month was 16.40¢; New Jersey was 13% above that. It ranked 12th highest among the 50 states and the District of Columbia.
Residential sales were 2,134,249 MWh, up 14.7% on a year earlier, and the average residential bill for the month was $106.36 on 573 kWh. Weather moves monthly sales far more than prices do, so bills swing with the season.
EIA marks this month as final. Final monthly figures are benchmarked to the annual Form EIA-861 census of utilities.
Average price is revenue divided by sales for the sector and year; it is not a tariff rate. Reliability figures are as reported by utilities to EIA on Form 861 and may use different calculation methods. Monthly figures come from the Form EIA-861M sample and are revised when EIA finalises the year.
Price by sector
| Sector | May 2024 | May 2023 | Change | US, May 2024 |
|---|---|---|---|---|
| Residential | 18.57¢ | 17.13¢ | +8.4% | 16.40¢ |
| Commercial | 14.74¢ | 14.09¢ | +4.6% | 12.32¢ |
| Industrial | 11.58¢ | 11.20¢ | +3.4% | 7.87¢ |
| All sectors | 15.89¢ | 14.87¢ | +6.9% | 12.47¢ |
Sales and customers
| Measure | May 2024 | May 2023 | Change |
|---|---|---|---|
| Residential sales | 2.1 TWh | 1.9 TWh | +14.7% |
| Sales, all sectors | 5.6 TWh | 5.2 TWh | +6.3% |
| Residential customers | 3,726,957 | 3,695,542 | +0.9% |
| Average residential bill | $106.36 | $86.26 | +23.3% |
| Average residential use, kWh | 573 | 504 | +13.7% |
| US residential price | 16.40¢ | 16.14¢ | +1.6% |
The two years to May 2024
New Jersey residentialUS residential
Questions and answers
What was the average electricity price in New Jersey in May 2024?
18.57¢ per kilowatthour for residential customers, 14.74¢ for commercial and 11.58¢ for industrial customers. EIA marks the month as final.
How does that compare with a year earlier?
The residential average was 17.13¢ in May 2023, a change of +8.4%. Residential sales changed by +14.7% over the same period.
What was the average residential bill that month?
$106.36, on average use of 573 kWh. This is residential revenue divided by residential customers for the month.
Provenance
Source: U.S. Energy Information Administration, Form EIA-861M sales and revenue workbook (state by sector and month), status "Final" for this month, series published through July 2026. Public domain. Price = revenue ÷ sales; bill = residential revenue ÷ residential customers. Utility-level annual figures are on the New Jersey page.