Effective Oct. 1, Public Service Electric and Gas Co. is decreasing residential gas bills pursuant to the New Jersey Board of Public Utilities approving the utility’s June gas supply filing.
Residential customers’ supply rate will decrease to 34 cents from 35 cents per therm, according to PSEG.
The board also approved a change in the balancing charge that recovers the costs associated with providing storage and peaking services while at the same time extending the balancing period to the months of October through May. As a result of these changes, an average residential gas heating customer who uses 172 therms in a winter month and 1,040 therms annually will pay about $6 less per year.
PSEG says residential gas bills are about 50 percent lower than they were in 2008.