Your gas bill is going up: NJ utility gets approval for big rate increase

⚫ New gas rates are in effect already

⚫ The rate hike isn't as high as the utility had originally requested

⚫ If you track your monthly usage, your increase will be noticeable

Good news for New Jersey Natural Gas customers: the typical bill is not increasing by 24%, like the utility originally wanted.

The bad news: rates are up significantly as of this month.

The New Jersey Board of Utilities has granted NJNG approval to increase its base rates by $157 million.

That means the typical customer can expect a 15.7% bill increase, compared to what they've been paying.

Earlier this year, NJNG had requested a bigger increase in order to cover operations and costs associated with infrastructure improvements. The settlement announced on Thursday puts the rate hike at around 16%.

According to Asbury Park Press, a typical customer will see their monthly bill increase by about $24.

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“This is a reasonable, fair settlement that recognizes the value of the approximately $850 million of investments New Jersey Natural Gas has made in its operations and system since 2021,” said Steve Westhoven, president and CEO. “These investments have significantly enhanced the reliability of our delivery system and supported the critical operation of our lifeline utility service."

Along with improvement efforts, the utility said the newly approved rates will "resolve any outstanding arrearages incurred due to the COVID-19 pandemic."

New Jersey 101.5 has reached out to the NJBPU for comment.

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In October, PSE&G lowered gas rates for residential customers. The change averages out to savings worth about $6 per month.

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