NEWARK, N.J., May 31, 2013 /PRNewswire/ -- PSE&G today proposed to keep residential natural gas bills at current low levels this coming winter. In its annual filing with the New Jersey Board of Public Utilities, PSE&G said it would not change its gas supply rate when new rates typically take effect October 1.
Under the filing, a typical residential heating customer using 160 therms in a winter month, or 1,050 therms per year, would pay $170.82 in a winter month, or $1,121.51 annually.
"Since 2009, PSE&G's residential gas customers have benefitted from steady reductions in the cost of natural gas," said Jorge Cardenas, vice president-asset management and centralized services. "This has resulted in a 39 percent reduction in annual residential bills. Even though gas supply costs have begun to fluctuate in recent months, we're pleased that we have been able to hold the rate steady for the upcoming winter."
PSE&G makes no profit on the sale of natural gas. The company passes along what it pays to customers. Costs for natural gas supply account for approximately half of a customer's bill.
Public Service Electric and Gas Company (PSE&G) is New Jersey's oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state's population. PSE&G is the winner of the ReliabilityOne Award for superior electric system reliability. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE: PEG), a diversified energy company (www.pseg.com).
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SOURCE Public Service Electric and Gas Company (PSE&G)