PSEG Will Lower Gas Bills Starting In October
The utility company credited the cost drop to "less volatile commodity prices and solid cost management.
Recognizing its success in reducing costs while enhancing reliability, PSE&G announced it will lower residential gas bills by around 5%, starting October 1. This reduction is mostly due to the lower BGSS rate.
High utility bills have made headlines especially after a hot summer, with a slew of lawmakers announcing different actions and potential legislation to try and find solutions to help New Jersey customers.
PSE&G credited the cost drop to “less volatile commodity prices and solid cost management.”
With the October 1 decrease, a PSE&G residential customer who uses an average of 100 therms of gas per month will have a monthly gas bill of about $104, a reduction of about $6.
PSE&G has been working hard to manage costs while continuing to upgrade their gas system to improve reliability. They have maintained low gas rates despite market price fluctuations and continued system improvements, with their gas rates consistently being one of the lowest in the state. In the last 10 years, PSE&G has replaced over 2,245 miles of aging gas infrastructure to improve safety, reliability, and customer service.
Payment Assistance
PSE&G customers who need help paying their utility bills may be eligible for assistance programs including LIHEAP and the New Jersey Universal Service Fund.
In 2023, more than 200,000 PSE&G customers received energy assistance, totaling $218 million. Through the Fresh Start Program, $92 million in outstanding balances were forgiven, the utility provider said.
Information on payment assistance programs is available at pseg.com/help.