On Friday, May 31, PSE&G filed proposals with the New Jersey Board of Public Utilities (NJBPU) that would lower the gas bills for its residential customers by 6.1%, effective Oct. 1, 2024.
“This is an opportunity to lower our gas supply rate, providing our customers with a little bill 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 one of the lowest gas rates in the state.”
Under the circumstances that the NJBPU approves the proposal, the Basic Gas Supply Service (BGSS) rate will drop to around 32.8 cents per therm, a drop of 7 cents per therm. The BGSS rate is indicative of the actual cost that utilities pay for natural gas and utilities also do not make any money on the supply charge.
To put the change into perspective, a PSE&G residential customer who uses an average of 100 therms per month, will have a monthly gas bill of around $102.70, which is $6.75 less than it currently is. PSE&G has maintained low gas rates, boasting one of the lowest in the state, but if the proposal is approved, their gas bills will only get lower and more manageable for residential customers to afford.
Customers that are in need of payment assistance for bills are urged to take advantage of all the programs that are offered, including LIHEAP and the New Jersey Universal Service Fund. PSE&G’s Payment Assistance Outreach team is dedicated to guaranteeing that all customers are properly educated on payment assistance and energy efficiency programs.
In 2023, PSE&G helped support over 100 community events including program sign-ups and education/training sessions. In that same span of time, over 200,000 of their customers were provided with energy assistance, which totaled over $218 million.