PSE&G Extends Gas Credit into March

NEWARK, N.J., Feb. 23, 2017 /PRNewswire/ -- Public Service Electric and Gas (PSE&G) announced today that it will extend its bill credit for residential gas customers next month, saving customers another $12 on their bills for March usage.

PSE&G provided bill credits for January and February usage, saving the typical residential gas customer about $25. By extending the credit through March, this customer could save a total of $37.

A typical residential heating customer using 165 therms in March and receiving their supply from PSE&G would see a credit of $12, or a nearly 9 percent reduction, in their one-month bill. Depending on meter reading schedules, many customers will see some of the reduction in March with the remainder in their April bills.

The Jan-Mar. bill credits are in addition to a 3 percent annual bill decrease that took effect Oct. 1, 2016 that is saving the typical customer $26 a year. Since January 2009, annual bills for PSE&G's typical residential gas heating customers are 53 percent – or $892 – lower due to supply rate reductions.

"This is the third time we have lowered the price of gas for residential customers this winter heating season," said Jorge Cardenas, PSE&G vice president of asset management and centralized services. "The cost of natural gas continues to be low, and we are happy to pass along these additional savings to our customers."

PSE&G makes no profit on the sale of natural gas, and passes along what it pays to customers. Last winter, PSE&G gave back $152 million to customers in the form of bill credits. The utility will be returning an estimated $47 million to customers this winter with the credit extension announced today.

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 (PSE&G)