PSE&G to lower rates in NJ, helping winter heating bills
You might have had a taste of gloomy fall weather during Tropical Storm Ophelia and been inclined to turn up the heat.
But there’s good news for your heating bill and wallet. Public Service Electric & Gas said that as of Oct. 1, customers can expect to pay less this winter to heat their homes.
PSE&G monthly gas bills will drop by 4%, or $4, to $106 a month, for customers who use 100 therms per month. The average customer uses 172 therms per month.
According to utility company Gas South, a therm is a “unit for measuring natural gas consumption and is used to calculate your gas charges.”
“We continue to work hard to deliver affordable, high quality, safe services while helping our customers manage their energy use and costs,” said PSEG Chief Customer Care Officer Dave Johnson, in a statement.
The state Board of Public Utilities approved the rate decrease at its monthly commissioners meeting earlier today.
Meanwhile, New Jersey Natural Gas said monthly heating bills will go down 1.7%, or $2.62, to $148.56 for average customers who use 100 therms a month.
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“New Jersey Natural Gas is dedicated to providing safe, reliable natural gas service at a reasonable price,” said Patrick Migliaccio, senior vice president and chief operating of New Jersey Natural Gas, in a statement this summer. “Our team works hard to manage supply costs, and we are pleased to pass these savings on to our customers.”
Last September, with natural gas costs near a 14-year high, state regulators approved rate hikes for millions of customers in New Jersey. But falling wholesale prices and a mild winter have allowed PSE&G to reverse course, said spokesperson Lauren Ugorji earlier this year.
During the warmer winter, customers used less natural gas and as a result, saved more on their heating bill.
Daniel Munoz covers business, consumer affairs, labor and the economy for NorthJersey.com and The Record.
Email: munozd@northjersey.com; Twitter:@danielmunoz100
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