The city of Hoboken, through New Jersey energy choice laws, provides its citizens the ability to buy their power from competitive companies offering low electricity rates. Prior to electricity choice, all Hoboken energy consumers were forced to buy their power supply from PSEG. Today PSEG acts only as a regulated energy delivery company for the city.
Hoboken New Jersey is located on the west bank of the Hudson River. Hoboken is said to be the first place that a game of baseball was played. In the early and mid 1900s, Hoboken was a blue collar city that focused on industry and shipping. Maxwell House and Lipton Tea were exporting a lot of their product from this port. Electricity choice took effect in the city in 2003, but didn’t really see significant activity in the residential market until 2011.
Energy choice participation is picking up in Hoboken as consumers are becoming more aware of legislation that allows them to shop for competitive electric rates. Electricity choice in Hoboken give consumers an alternative to the often high PSEG electricity supply prices. The default rates offered in Hoboken are determined through a series of auctions held by PSEG for competitive companies. Competitive electricity rates offered on an individual basis are often lower than the PSEG default rates, resulting in lower PSEG electric bills for those consumers who take the time to power shop in Hoboken.
Hoboken has transformed starting in the 70’s. Many musicians and artists began to transplant to the area from New York. The real estate in Hoboken received incentives for renovation to raise the standard of living conditions. Hoboken quickly caught on. Many people chose to move here and escape the expenses on Manhattan. Hoboken is now a flourishing city with much culture to offer. Pier A Park is one of the US’ top ten urban parks. Hoboken has transformed to a cultural hub full of shopping and eatery. The residential side is full of luxury apartments and condos, all of which have the ability to shop the market for competitive electricity rates.
Below are current Hoboken electricity rates offered as an alternative to the PSEG default rate.