PSE&G will lower residential gas bills for its residential customers effective Jan. 1, 2020. This reduction is in addition to a reduction that took effect Oct. 1, 2019.
The reduction reflects the continued decline in natural gas prices. Lower gas prices, combined with PSE&G’s ability to efficiently manage its gas supply contracts and purchases, have produced cost savings that the utility will pass along to customers. Residential gas bills today are 50% lower than they were in 2008.
With the new rates, the gas supply charge will decrease from 34 cents per therm to 32 cents. The typical residential gas heating customer will save about $21 per year, representing an annual savings of approximately 2% on their total gas bill.
“This reduction will provide a much-needed positive impact for our customers as temperatures are dropping and customers try to keep their winter heating bills affordable,” said Michael Schmid, PSE&G’s vice president of Asset Management & Centralized Services.
In addition to the price decrease, the utility offers a list of steps that customers can take to reduce their costs even further:
Want to learn more ways to save money and energy? Visit the PSE&G Home Energy Analyzer, where you can calculate the energy efficiency of your home and find out how to save energy and money on appliances and heating systems.
To access more business news, visit NJB News Now.Related Articles: