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Public Services Electricity and Gas Towards New Jersey Public Utilities Commission China’s National Gas Administration announced on Friday that it will reduce natural gas bills for residential users by 6.1% starting October 1.
If approved by the BPU, the basic natural gas supply service rate would decrease by nearly 7 cents per thermal unit to approximately 32.8 cents per thermal unit. The BGSS rate reflects the actual cost of natural gas paid by utilities, and utilities do not make any money from the supply fee.
The proposed BGSS rate reduction and small increase in the balancing rate will result in a reduction in total customer bills. If the BPU approves the submitted proposal, PSE&G’s natural gas bills will become among the lowest in the state, and the typical residential customer will realize a net reduction of 6.1% in their average monthly bill.
The average PSE&G residential customer using 100 kcal per month will pay about $102.70 per month for gas, which is $6.75 less than today. Despite market price fluctuations, PSE&G has maintained low gas rates, which have been among the lowest in the state for 15 years. The typical PSE&G residential gas customer’s bill will be about 33.40% lower than in 2008, and about 47.59% lower after accounting for inflation.
Dave Johnson, vice president of client services and chief customer officer, said the company was pleased to make the proposal.
“This is an opportunity to lower the price of natural gas supply, provide our customers with some bill relief and help maintain affordability,” he said. “We are pleased that we will continue to have one of the lowest natural gas prices in the state.”
PSE&G also noted that customers who need help paying their bills can take advantage of numerous assistance programs, including LIHEAP and the New Jersey Universal Service Fund.
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