PEG Public Service Enterprise Group Inc

Decrease takes effect immediately, ahead of heating season NEWARK, N.J., Sept. 16 /PRNewswire-FirstCall/ -- Public Service Electric and Gas Company (PSE&G) today lowered residential natural gas bills by about 7 percent in advance of the winter heating season. Approved by the New Jersey Board of Public Utilities, the reduction is the third bill decrease for supply since January 1, 2009, for a total reduction of 18 percent from October 2008 rates. Under the new gas supply rates, the residential gas heating customer who uses 200 therms in a winter month will pay $270.85, or $20.54 less per month. "Lower wholesale gas prices are one consumer benefit of today's tough economic climate," said Mark Kahrer, PSE&G vice president of finance. "Our customers can certainly use this good news as we head into cooler weather." As natural gas prices dropped last winter, PSE&G lowered residential gas bills by 5 percent on January 1 and another 7 percent on March 1. PSE&G makes no profit on the sale of natural gas and passes along what it pays to customers. Public Service Electric and Gas Company (PSE&G) is New Jersey's oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state's population. PSE&G is a three-time winner of the ReliabilityOne National Reliability Excellence Award for superior electric system reliability. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company (http://www.pseg.com/). Want to know what's new at PSEG? Go to http://www.pseg.com/getnews and sign up to have our press releases and weekly environmental commentaries sent right to your inbox. DATASOURCE: Public Service Electric & Gas Company (PSE&G) CONTACT: Karen Johnson, +1-973-430-7734 Web Site: http://www.pseg.com/

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