Newark-based PSE&G will lower residential gas bills effective Jan. 1, 2020, in addition to a reduction that took effect Oct. 1, 2019.
PSE&G also lowered residential gas bills in October 2019. (PSEG) – NJBIZ FILE PHOTO
PSE&G says this second discount reflects a continued decline in natural gas prices. With the new rates, the gas supply charge will decrease from 34 cents per therm to 32 cents per therm. The typical residential gas heating customer will save about $21 per year, representing an annual savings of approximately 2 percent on their total gas bill.
This second reduction is a result of lower gas prices, combined with PSE&G’s ability to more efficiently manage its gas supply contracts and purchases, which have produced cost savings that the utility will pass along to customers.
PSE&G reports residential gas bills today are 50 percent lower than what they were in 2008.
The utility offers steps that customers can take to reduce their costs: lower the thermostat by 1 degree, close the fireplace damper when not in use; spin ceiling fans clockwise to push air upward toward the ceiling; replace old windows; move furniture and drapes away from heating registers, radiators, and baseboard element covers; and use weather stripping or caulk to seal cracks and prevent drafts.
