PSE&G recently announced it is lowering gas bills for residential customers by about 5% in a move to keep costs down while improving the reliability of its gas systems.
“This is an opportunity to lower our gas supply rate, providing our customers with some price 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 not only the lowest gas rate in the state, but the lowest in the region.”
Reduction of Residential Natural Gas Rates
The Basic Gas Supply Service (BGSS) rate was reduced by almost 7 cents per therm to approximately 32.8 cents per therm, following last month’s approval by the New Jersey Board of Public Utilities approval.
The BGSS rate reflects the actual cost utilities pay for natural gas; utilities do not make any profit on gas supply.
The reduction of about 5% to the typical residential customer’s average monthly gas bill is mostly due to the lower BGSS rate. After this change, a PSE&G residential customer who uses an average of 100 therms per month will have a monthly gas bill of about $104, a reduction of about $6.
This continues PSE&G’s trend of maintaining low gas rates through market price fluctuations and continued system improvements, the company said in a statement. In the last 10 years, the company has replaced over 2,245 miles of aging gas infrastructure to improve safety, reliability, and customer service.
About PSE&G
Public Service Electric & Gas Co. is New Jersey’s oldest and largest gas and electric delivery public utility, as well as one of the nation’s largest utilities. PSE&G is the 2022 Edison Award recipient from the Edison Electric Institute. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 22 consecutive years.
For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In addition, in 2023 J.D. Power named PSE&G number one in customer satisfaction with residential and business electric service in the east among large utilities.
PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG), a predominantly regulated infrastructure company focused on a clean energy future and has been named to the Dow Jones Sustainability Index for North America for 16 consecutive years.