PSE&G Proposes To Reduce Residential Gas Bills By Nearly 9% This Winter

(RTTNews) - Public Service Electric and Gas Company or PSE&G, a subsidiary of Public Service Enterprise Group Inc. (PEG), said that it proposed to reduce residential natural gas bills this coming winter by nearly 9 percent, saving customers almost $15 in a winter month or about $100 for the year.

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 about 8.9 percent. The new rate would take effect October 1, 2014.