NJ utility says they’re lowering energy bills in October

Heading into the cooler months, an energy company is lowering gas bills for New Jersey customers.

The plan has been in the works for months, but PSE&G officially announced on Thursday that gas bills for residential customers should go down by about 5%.

The change is set to take effect on Oct. 1.

The utility credits solid cost management and less volatile commodity prices for the break.

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"This is an opportunity to lower our gas supply rate, providing our customers with some price relief and helping to maintain affordability," said PSE&G's Dave Johnson.

PSE&G made the rate-cut proposal to the New Jersey Board of Public Utilities in May. NJBPU approved the move on Wednesday.

How much can I save?

With NJBPU's approval, the Basic Gas Supply Service rate — the actual cost utilities pay for natural gas — is being reduced by almost 7 cents per therm, PSE&G said.

That's the main driver behind the lower bills.

With this change, a PSE&G residential customer who uses an average of 100 therms per month will have a monthly gas bill of approximately $104, the utility said. That's a reduction of about $6.

In early September, New Jersey American Water announced that the cost of service would be going up, effective. Sept. 15. The average customer is paying $5.32 more per month.

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