NEWARK, NJ – Public Service Electric and Gas Company (PSE&G), New Jersey’s largest utility, announced on Nov. 23 that it will provide bill credits this winter that will lower bills by about 30 percent during the months of Dec., Jan. and Feb. for a typical residential gas heating customer. Those customers will see a total bill credit of approximately $124 this winter.
Including these winter’s bill credits, since January 2009 annual bills for PSE&G’s typical residential gas heating customer will be 55 percent—or $916 lower due to supply rate reductions, according to PSE&G. In fact, PSE&G said its gas supply rate is at its lowest in 15 years.
“I can’t think of any other commodity that costs 55 percent less today than it did in 2009,” said Jorge Cardenas, PSE&G vice president of asset management and centralized services. “Falling natural gas prices, our transportation and storage capabilities, and the way we manage our contracts have enabled us to pass these savings along to our customers as the temperature drops.”