Gas utilities share savings, to cut bills

NJBIZ, Jun 8, 2009

The state's four gas utilities PSE&G, in Newark; South Jersey Gas, in Folsom; New Jersey Natural Gas, in Wall; and Elizabethtown Gas, in Union - last week proposed rate reductions of between $10 and $48 for residential customers, beginning in October, over and above reductions made earlier this year. These reductions are subject to approval by the New Jersey Board of Public Utilities.

PSE&G said its proposed rate cut of $10 for a 100 -therm monthly bill will be the third since January, totaling 18 percent, or $30, on each residential bill. New Jersey Natural Gas customers with a similar consumption volume will save nearly $30. The company said it was passing on the benefits of lower wholesale natural gas prices and its "strategic storage management, hedging and costcontrol activities."

Elizabethtown Gas said it has sought approval for a 28 percent rate cut for its residential customers, or $48 a month for a 100therm customer. South Jersey Gas said if its plants approved, residential heating customers will save $25.42 on a 100-therm monthly natural gas bill, and earn a $68 credit in October. - Shankar P.