Natural Gas Costs Going Down
Many New Jersey residents will be spending less to stay warm this winter.
The state Board of Public Utilities has approved rate decreases for three natural gas companies. The lower rates were approved last week and take effect on Oct. 1.
BPU spokesman Greg Reinert says there are many factors, including a growing supply of natural gas from drilling in the region. The gas is coming largely from Pennsylvania, as drillers use the often-protested technique of hydraulic fracturing to get gas from deep within the earth.
Rates will drop for customers of PSE&G, Elizabeth Gas Company and South Jersey Gas Company. Residents who use a typical amount of gas are expected to save between $24 and $38 per year, depending on which company they use.
(Copyright 2012 by The Associated Press. All Rights Reserved.)