PSE&G filed proposals with the New Jersey Board of Public Utilities (BPU) on Friday that, if approved, would lower gas bills for residential customers by 6.1%, effective Oct. 1.
“This is an opportunity to lower our gas supply rate, providing our customers with a little bill relief and helping to maintain affordability,” said Dave Johnson, Vice President Customer Care & Chief Customer Officer. “We’re pleased that we will continue to have one of the lowest gas rates in the state.”
If approved by the BPU, the Basic Gas Supply Service (BGSS) rate will be reduced by almost 7 cents per therm to approximately 32.8 cents per therm. The BGSS rate reflects the actual cost utilities pay for natural gas, and utilities do not make any money on the supply charge.
The proposed reduction to the BGSS rate and a small increase to the Balancing Charge rate will result in an overall customer bill reduction. If the BPU approves the filed proposal, PSE&G’s gas bills would be one of the lowest in the state and typical residential customers would realize a net 6.1% average reduction in their monthly gas bills.
A PSE&G residential customer who uses an average of 100 therms per month will have a monthly gas bill of about $102.70, or $6.75 less than it is now. PSE&G has maintained low gas rates despite market price fluctuations, with its gas rates being one of the lowest in the state for over 15 years. The typical PSE&G residential gas customer’s bill will be approximately 33.40% lower than in 2008 and approximately 47.59% lower when allowing for inflation, the utility said.
Information on PSEG customer payment assistance programs is available at pseg.com/help.
