New Jersey Natural Gas Announces $10 Million Bill Credit
November 20 2020 - 11:07AM
Business Wire
New Jersey Natural Gas (NJNG), the principal subsidiary of New
Jersey Resources (NYSE: NJR) today notified the New Jersey Board of
Public Utilities (BPU) it will provide residential and small
commercial customers with a bill credit totaling $10 million,
effective December 1, 2020 through December 31, 2020. This one-time
bill credit will save the average residential heating customer
using approximately 158 therms $19.31, a decrease of 11.2% on their
December bill.
“As we head into the winter months when the weather is typically
colder and heating costs higher, we are pleased to provide this
bill credit to our customers.” said Steve Westhoven, President and
CEO of New Jersey Natural Gas. “We will continue to utilize our
market expertise and work to manage costs and identify savings
where possible. This is our commitment to our customers.”
NJNG is able to provide a bill credit at this time due to rate
case refunds from interstate pipelines and lower natural gas
prices. NJNG does not earn a return on the price of natural gas
used to serve its customers. This bill credit does not affect
NJNG’s profitability.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that,
through its subsidiaries, provides safe and reliable natural gas
and clean energy services, including transportation, distribution,
asset management and home services. NJR is composed of five primary
businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary, operates
and maintains over 7,500 miles of natural gas transportation and
distribution infrastructure to serve over half a million customers
in New Jersey’s Monmouth, Ocean, Morris, Middlesex and Burlington
counties.
- NJR Clean Energy Ventures invests in, owns and operates solar
projects with a total capacity of more than 350 megawatts,
providing residential and commercial customers with low-carbon
solutions.
- NJR Energy Services manages a diversified portfolio of natural
gas transportation and storage assets and provides physical natural
gas services and customized energy solutions to its customers
across North America.
- NJR Midstream serves customers from local distributors and
producers to electric generators and wholesale marketers through
its ownership of Leaf River Energy Center and the Adelphia Gateway
Pipeline Project, as well as our 50 percent equity ownership in the
Steckman Ridge natural gas storage facility, and our 20 percent
equity interest in the PennEast Pipeline Project.
- NJR Home Services provides service contracts as well as
heating, central air conditioning, water heaters, standby
generators, solar and other indoor and outdoor comfort products to
residential homes throughout New Jersey.
NJR and its more than 1,100 employees are committed to helping
customers save energy and money by promoting conservation and
encouraging efficiency through Conserve to Preserve® and
initiatives such as The SAVEGREEN Project® and The Sunlight
Advantage®. For more information about NJR:
www.njresources.com.
Follow us on Twitter @NJNaturalGas. “Like” us on
facebook.com/NewJerseyNaturalGas.
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version on businesswire.com: https://www.businesswire.com/news/home/20201120005582/en/
Media Contact: Michael Kinney 732-938-1031
mkinney@njresources.com
Investor Contact: Dennis Puma 732-938-1229
dpuma@njresources.com
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