NEWARK, N.J., Sept. 16 /PRNewswire/ -- PSE&G will lower
residential gas bills by an additional 6.8 percent, or about
$14 per month for the typical
residential customer. Approved today by the New Jersey Board of Public Utilities (BPU),
this latest reduction follows a net 4 percent reduction PSE&G
implemented on July 9 for residential
gas customers.
Under the new gas supply rates, a residential gas heating
customer who uses 160 therms in a winter month, or 1,050 therms per
year, will see a bill decrease of $94
on an annual basis. This customer's monthly winter bill will be
$194.72, a decline of $14.26. The BPU has authorized the company to
implement the lower rates immediately.
This latest reduction follows the net 4 percent bill reduction
in July when the company’s base rate case was resolved. A
modest 0.9 percent increase in the delivery portion of the
bill was more than offset by a 5 percent reduction in the
supply portion of the bill. Including today’s approved
reduction, PSE&G will have lowered gas bills a total of
approximately 28 percent since January
2009, when wholesale prices started to drop.
PSE&G makes no profit on the sale of natural gas and passes
along what it pays to customers. If the price of natural gas
increases, the New Jersey Board of
Public Utilities allows the state's natural gas utilities,
including PSE&G, to recover those costs. Conversely, reductions
in the gas supply price may be implemented at any time if market
conditions warrant.
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 the winner
of the ReliabilityOne Award for superior electric system
reliability. PSE&G is a subsidiary of Public Service Enterprise
Group Incorporated (PSEG) (NYSE: PEG), a diversified energy company
(www.pseg.com).
Want to know what's new at PSEG? Go to
www.pseg.com/getnews and sign up to have our press
releases and weekly environmental commentaries sent right to your
inbox.
SOURCE Public Service Electric & Gas Company (PSE&G)
Copyright . 16 PR Newswire