PSE&G Proposes 5% Reduction in NJ Residential Gas Bills for Nearly 2M Customers

PSE&G has proposed a 5% reduction in residential gas heating bills for nearly 1.9 million New Jersey customers, effective October 1.

The utility company cited volatile winter natural gas markets and its long-term planning strategies as the reason behind the proposal. PSE&G said it monitors energy markets throughout the year, forecasts customer demand, and purchases much of its natural gas supply months in advance to manage costs.

According to Brian Clark, Senior Vice President of Gas Operations, 'Keeping energy affordable for our customers requires planning, discipline, and a long-term approach.' He added that by securing supply in advance, maintaining access to storage resources, and managing costs responsibly, the company can help customers avoid market swings that lead to higher winter heating bills.

The proposed reduction would lower residential gas bills and continue to benefit customers with stable energy costs and reliable service heading into the winter heating season. If approved, the new rates would take effect on October 1.