PSE&G is lowering gas bills for NJ customers
⚫ NJ residents who are PSE&G customers are about to save money
⚫ The utility is cutting rates for the second month in a row
⚫ The cost of the typical monthly gas bill has dropped about 32% since 2008
If you’re a PSE&G customer, hang onto your hat.
The utility has announced it’s about to lower your gas bill. Again.
Effective March 1, 2023, gas bills for residential customers will decrease 2.6% annually.
According to PSE&G vice president of customer care and chief customer officer Dave Johnson, the gas supply rate will be reduced by 3 cents per therm to approximately 47 cents per therm, reflecting a decrease in natural gas market pricing.
How much will you save?
That means if your family home uses 100 therms a month your bill in March will drop $3 to about $113.
“This second gas rate decrease is more good news for customers, following the decrease PSE&G implemented effective Feb. 1, 2023,” he said, “we’re pleased to be able to lower our gas rate again, and we will continue to help our customers manage energy use and costs.”
Why is this happening?
According to the utility, the Basic Gas Supply Service 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 this 2.6% decrease is added to the gas supply rate reduction that took place Feb. 1, PSE&G has reduced monthly winter gas bills by approximately $18 or 14% over the last two months.
A statement by the utility says the typical PSE&G residential gas customer's bill will now be approximately 32% lower than in 2008 and approximately 46% lower when allowing for inflation.
If you are struggling to pay your utility bill PSE&G is encouraging you to take advantage of all available assistance including LIHEAP and the New Jersey Universal Service Fund.
PSE&G helped 220,000 customers in need receive over $450 million in payment assistance funds in 2022 through state and federal programs. Information on payment assistance programs is available here.
Customers with other concerns can contact PSE&G at pseg.com/myaccount, or by calling 1-800-436-PSEG.