Customers to Pay Less to Heat their Homes This Winter

Bill credits to save typical customer $50 over two months

Gas bills are half what they were in 2009

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Dec 21, 2017, 14:42 ET

NEWARK, N.J., Dec. 21, 2017 /PRNewswire/ -- Public Service Electric and Gas Company (PSE&G), New Jersey's largest utility, announced today that it will provide bill credits this winter that will lower monthly bills for a typical residential gas heating customer by about 17 percent during January and February. Customers will receive a credit on their PSE&G bill of approximately $50 over two months this winter.

A typical residential customer using 165 therms per month in January and February would normally pay about $300 for both months. This customer's bill for both winter months will be about $250 with the bill credit.

Since January 2009, annual bills for PSE&G's typical residential gas heating customers are 49 percent -- or $825 -- lower due to supply rate reductions.

"Low natural gas prices, our transportation and storage capabilities, and the way we manage our contracts have enabled us to pay less for natural gas," said Jorge Cardenas, PSE&G vice president of asset management and centralized services. "We are pleased to be able to pass these savings on to our residential customers."

PSE&G makes no profit on the sale of natural gas, and passes along what it pays to customers.

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.

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SOURCE PSE&G