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PSE&G Proposes To Reduce Residential Gas Bills By Nearly 9 Percent This Winter
May 30,2014 PSE&G has proposed to reduce residential natural gas bills this coming winter by nearly 9 percent. In its annual filing with the New Jersey Board of Public Utilities, PSE&G said it would reduce its basic gas supply rate this winter to 45 cents from 54 cents – the lowest rate in 14 years. With this reduction, a typical residential heating customer using 160 therms in the winter months, and 1,050 therms per year, would see their annual bill reduced to $987.96 from $1,084.74 for a savings of $96.78, or approximately 8.9 percent. This same customer would see their monthly winter bill reduced to $150.17 from $164.92 for a savings of $14.75, or approximately 8.9 percent. The new rate would take effect October 1, 2014. PSE&G said the company, "has worked hard to manage the portfolio of gas pipeline and storage agreements to be able to lower gas costs for its residential customers and help keep winter heating bills affordable." The utility also continues to purchase gas from the nearby Marcellus Shale Formation, which has helped to lower supply costs, the company said. Gas supply reductions have lowered bills 44 percent since 2009, PSE&G said
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