PSE&G announced today that it is lowering gas bills for its residential customers effective Feb. 1, 2023.
“This is good news, with many of our customers still struggling to deal with a variety of economic pressures,” said Dave Johnson, vice president Customer Care & Chief Customer Officer. “We’re pleased to be able to provide this relief and we will continue to help our customers manage energy use and costs.”
The gas supply rate will be reduced by 15 cents per therm to 50 cents per therm. The 23% decrease in the commodity charge reflects the decrease in natural gas prices in recent months. The Basic Gas Supply Service (BGSS) rate reflects the actual cost utilities pay for natural gas, and utilities do not make any money on the supply charge. PSE&G’s gas bills will remain the lowest in the state.
When the rate decrease takes effect on Feb. 1, a PSE&G residential customer who uses 100 therms per month will have a monthly winter gas bill of about $116, or $15 less than it is now.
PSE&G has worked to keep gas rates low despite market fluctuations. The average PSE&G residential gas customer’s bill will be approximately 30% lower than in 2008 and 44% lower when allowing for inflation.
Customers who are struggling to pay bills are encouraged to take advantage of all available assistance including LIHEAP and the New Jersey Universal Service Fund. PSE&G has played a big role in helping 220,000 customers in need receive over $450 million in payment assistance funds through state and federal programs. Information on payment assistance programs is available here.
We also encourage customers to take advantage of our programs, tips and tools to help reduce energy use and manage monthly bills. Over the past four years, through our energy efficiencyprograms, approximately 50,000 customers have participated in our no cost or low cost home energy assessments with almost half of them from a household with a low to moderate-income level. Many customers have received rebates on a variety of energy-saving products; we have distributed more than 12 million LED lightbulbs and about 350,000 smart thermostats to our customers.
PSE&G customers also can enroll in our Equal Payment Plan (EPP) to manage energy costs and avoid seasonal fluctuations. The EPP divides the total cost of your energy use into equal monthly payments, making energy bills more predictable.
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