PSE&G to Lower Residential Gas Bills This Fall
Gas bills are half what they were in 2008
(NEWARK, N.J. – Oct. 8, 2019) Public Service Electric and Gas Co. (PSE&G) is decreasing residential gas bills just in time for the winter heating season. The New Jersey Board of Public Utilities recently approved PSE&G’s June gas supply filing that will reduce customers’ bills, effective Oct. 1.
Residential customers’ supply rate will decrease to 34 cents from 35 cents per therm. The Board also approved a change in the balancing charge which recovers the costs associated with providing storage and peaking services while at the same time extending the balancing period to the months of October through May.
As a result of these changes, an average residential gas heating customer who uses 172 therms in a winter month and 1,040 therms annually will pay about $6 less per year.
Residential gas bills are about 50 percent lower than they were in 2008.
“We work hard to keep our bills as stable as possible for customers,” said Michael Schmid, vice president of Asset Management and Centralized Services. “The cost of natural gas is still historically low when compared to a decade ago and costs for the 2019-20 period have decreased further.”
“During the past 10 years, customers have experienced significant savings as the cost of natural gas has dropped steadily,” Schmid said. “As a result, the typical residential gas customer will pay about $880 less per year than they did in 2008 – in addition to monthly bill credits that have been implemented in the last few years.”
“Overall, gas prices are marginally lower due to increased production levels compared to last year,” Schmid said. “These increased production levels, combined with PSE&G’s ability to efficiently manage our gas supply contracts and purchases, result in further savings that we are pleased to pass along to customers.”
PSE&G makes no profit on the sale of natural gas, passing along what it pays to its customers. If the price of natural gas increases, the BPU allows the state’s natural gas utilities, including PSE&G, to recover those costs. Conversely, reductions in the gas supply price may be implemented at any time if market conditions warrant.
Extra personnel and equipment at the ready
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We are making preparations for a possible landfall of Hurricane Joaquin in its service area. We are closely monitoring the expected heavy rains and high winds over the next several days.
We take every storm with the potential for outages very seriously. We are activating our emergency protocol and personnel, and performing system checks on critical transmission and distribution equipment. Also, we are requesting mutual aid from other utilities, securing additional tree crews and ensuring the availability of materials and supplies.
We recommend that local DPW’s clear any clogged drains or culverts that might complicate or hamper travel or road access in light of heavy rains.
What to do now: Be ready to communicate, make sure you have a family emergency plan, and prepare an emergency kit.
- Compile a list of emergency phone numbers, including PSE&G’s Customer Service line 1-800-436-PSEG.
- Sign up for My Account and bookmark the mobile-friendly homepage on your smart phone to report outages and check restoration progress.
- Register for MyAlerts ahead of time to receive text notifications about an outage: https://www.pseg.com/myalerts/.
- “Like” PSEG on Facebook and follow PSEG on Twitter @PSEGdelivers
Formulate a plan:
- Discuss storm safety with your family.
- How will my family/household get emergency alerts and warnings?
- How will my family/household get to safe locations?
- How will my family/household get in touch if cell phone, internet, or landline doesn’t work?
- How will I let loved ones know I am safe? How will family/household get to a meeting place after the emergency?
- Be sure everyone in the family is prepared. Go to www.pseg.com/sesamestreet to download the PSEG and Sesame Street “Let’s Get Ready!” emergency preparedness app for young children.
Make an emergency kit:
- One gallon of water per person, per day for at least three days
- At least a three day supply of non-perishable foods and a manual can opener
- Ensure you have a battery-powered radio and fresh batteries.
- Flashlights and extra batteries
- First aid kit
- Consider purchasing a portable gas generator