New Jersey Board of Public Utilities Approves Rate Change for South Jersey Gas
October 20 2017 - 12:01PM
YASTEST
For Immediate
Release
New Jersey Board
of Public Utilities Approves
Rate Change for
South Jersey Gas
FOLSOM, N.J., October 20,
2017 - The New Jersey Board of Public Utilities (NJBPU) today
approved changes to South Jersey Gas' base rates to recognize the
utility's prudent and significant infrastructure investments made
to maintain the safety and reliability of its natural gas delivery
system for customers. This base rate change is the company's first
since 2014 and takes effect November 1.
A typical residential heating customer using 100
therms of natural gas during a winter month will see an increase of
$14.73 on their monthly bill. Even with this increase, total annual
customer bills will be lower than they were 10 years ago due to
lower wholesale gas prices and South Jersey Gas' effective
management of its supply portfolio, allowing savings to be passed
directly to customers. Wholesale natural gas prices have steadily
declined and remain low due to the availability and proximity of
Marcellus Shale gas to southern New Jersey providing significant
cost savings to natural gas customers. Since January 2014, South
Jersey Gas has provided approximately $52 million in bill credits
to customers due to lower natural gas prices.
Infrastructure investments made by the company
include the replacement of aging mains, the installation of new
mains to meet growing demand, and expenditures to ensure compliance
with state and federal system integrity and safety regulations.
Since its last base rate case in 2014, South Jersey Gas has
invested approximately $412 million in system improvements that had
not yet been reflected in base rates.
"Delivering a safe, reliable and affordable supply
of natural gas is vital for customers to heat their homes and
operate their businesses," said Dave Robbins, president of South
Jersey Gas. "The investments we've made will help us to continue to
meet increasing customer needs while supporting southern New
Jersey's economy."
"Cost-saving measures are in place to help
minimize increases, and we manage our natural gas supply portfolio
to take advantage of declining wholesale natural gas prices for
customers," added Robbins.
Customers who have difficulty paying their bills
should contact the South Jersey Gas Customer Contact Center at
1-888-766-9900 to learn more about the Budget Billing/Equal Payment
Plan and assistance programs for which they may qualify. Assistance
programs include the PAGE (Payment Assistance for Gas and Electric)
program, NJ SHARES, Home Energy Assistance Program, New Jersey
Comfort Partners Program, Universal Service Fund, and
Lifeline.
Customers can also access valuable savings
information on the South Jersey Gas website, including energy
audits and energy efficiency tips. These options can help reduce
energy use and costs while still retaining comfort. Visit
www.southjerseygas.com to learn more.
About South Jersey Gas
South Jersey Gas, subsidiary of South Jersey
Industries (NYSE:SJI), delivers safe, reliable, affordable natural
gas and promotes energy efficiency to approximately 381,000
residential, commercial and industrial customers in Atlantic, Cape
May, Cumberland, Salem, and portions of Gloucester, Burlington and
Camden counties in New Jersey. Visit www.southjerseygas.com to
learn more about South Jersey Gas and its programs.
TELEPHONE: 609-561-9000 ext. 4496
Media Contact:
media@sjindustries.com
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Source: South Jersey Industries via Globenewswire
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