Bill credits will save typical customer $124 over three months
Annual bills down 55 percent since 2009 due to falling natural gas prices
(Newark, N.J. – Nov. 23, 2015) Public Service Electric and Gas Company (PSE&G), New Jersey’s largest utility, announced today that it will provide bill credits this winter that will lower bills by about 30 percent during the months of December, January and February for a typical residential gas heating customer. Those customers will see a total bill credit of approximately $124 this winter.
Including this winter’s bill credits announced today, 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. In fact, PSE&G’s 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.”