Utility Won't Increase Default Service Rate As Initially Forecast, Due To Changed Market Conditions
September 25, 2017 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
New Jersey Natural Gas (NJNG) will maintain its current Basic Gas Supply Service (BGSS) rate of of $0.3654 per therm for the period starting October 1, rather than increasing the rate by about 4¢/therm as initially requested
In its annual BGSS filing, NJNG had in June 2017 proposed to increase its periodic BGSS rate for sales customers from its current after-tax level of $0.3654 per therm ($0.3419 per therm pre-tax) to $0.4099 per therm ($0.3835 per therm pre-tax). NJNG had proposed the increase based on market conditions at that time.
However, "[d]ue to recent market price decreases and successful natural gas purchasing strategies, however, NJNG is able to maintain its current BGSS rate of $0.3654 per therm," the utility said