Business Services Industry
New Jersey Regulators Order Public Service Electric & Gas to Cut Rates.
Knight Ridder/Tribune Business News, April, 1999 by Twyman, Anthony S.
Knight Ridder/Tribune Business News
Apr. 22 -- In a decision that will reshape the way 2 million customers buy electricity in New Jersey, the state yesterday adopted a deregulation plan that will eventually slice nearly 20 percent off the bills paid by customers of Public Service Electric & Gas Co.
The rate cut represents the 13.9 percent rate discount PSE&G will provide all its customers by 2002, as well as a 6 percent discount consumers will eventually receive due to the state's recent revision of its energy tax.
Translated, that's the equivalent of getting about 2 months worth of energy for free, Herbert Tate, the president of the state's Board of Public Utilities, said in defense of a plan critics say does not go far enough for New...
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