Public Service Enterprise To Slash Gas Bills By 5% From Oct. 1

(RTTNews) - Thursday, Public Service Enterprise Group Inc.'s(PEG) PSE&G announced a 5% decrease in gas bills for residential customers, starting October 1, 2024.

The company stated that the Basic Gas Supply Service rate will drop by nearly 7 cents per therm to around 32.8 cents per therm. This change will lower the average monthly bill for customers using 100 therms by $6, bringing it to approximately $104.

Over the last ten years, the company has upgraded more than 2,245 miles of old gas infrastructure. The reduction is attributed to more stable commodity prices and effective cost management.

Additionally, PSE&G highlighted several payment assistance programs available to customers, including the Low-Income Home Energy Assistance Program (LIHEAP) and the New Jersey Universal Service Fund.