New Jersey Natural Gas Extends Bill Credit Through March; Customers to Save an Additional $16 Million

New Jersey Natural Gas (NJNG) today notified the New Jersey Board of Public Utilities (BPU) that it plans to increase the BGSS bill credit for residential and small business customers and extend it through March 31, 2009. The credit is expected to save customers an additional $16 million, or approximately 15 percent on an average monthly bill.

�The economic downturn is putting a financial strain on families,� said Laurence M. Downes, chairman and CEO of NJNG. �We are pleased to be able to extend the bill credit and offer price relief at this time of economic uncertainty. We will continue to diligently watch the markets and look for additional ways to help our customers.�

These savings are in addition to the $32 million bill credit NJNG previously implemented for January and February, bringing the total to $48 million for the first three months of the year. In March, the credit will be increased from approximately 20 cents to 25 cents per therm and will be based on each customer�s usage for the month. The average residential customer using 150 therms will receive a credit of approximately $38. For the 3-month period of January through March 2009, the average residential customer using 1,000 therms annually will receive bill credits totaling approximately $108, or savings of more than 6 percent.

The combination of recent lower wholesale natural gas prices and NJNG�s management of storage utilization, hedging strategies and increased customer credits from portfolio optimization presents the opportunity to increase and extend the BGSS bill credit to its customers. The natural gas commodity market remains extremely volatile. Since it is unknown what market prices will do for the remainder of the heating season, a bill credit is the most effective way for the utility to provide immediate relief to its customers. NJNG will continue to monitor market conditions and look for ways to manage costs and provide savings to customers.

Recognizing these are difficult economic times, NJNG offers a Budget Plan to help customers manage their energy costs and spread out their anticipated natural gas payments over a 12-month period at no additional cost. Additionally, through Conserve to Preserve�, NJNG provides a variety of tools and information to help customers to reduce their energy costs and save money. Numerous resources and special offers are available on NJNG�s Web site, www.njng.com, including energy-savings tips, information on energy-efficiency upgrades and energy assistance programs.

New Jersey Natural Gas (NJNG) is the principal subsidiary of New Jersey Resources (NYSE: NJR), a Fortune 1000 company. NJNG serves more than 486,000 customers in New Jersey�s Monmouth, Ocean, Middlesex and Morris counties. This service area�s demographics and quality of life contribute greatly to NJNG�s growth. NJNG�s progress is a tribute to the dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make the company a leader in the competitive energy marketplace. For more information, visit NJNG�s Web site at www.njng.com.

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