PSE&G Files To Lower Default Service Rate

Public Service Electric and Gas Co. (PSE&G) filed for a decrease in the residential natural gas supply rate that would take effect this fall for the winter heating season.

Under PSE&G's gas supply filing made today, the Basic Gas Supply Service rate for residential customers would decrease to about 35 cents per therm from the current rate of about 37 cents per therm.

"Overall gas prices are lower due to increased production levels, as compared to last year," said Jorge Cardenas, vice president of asset management and centralized services at PSE&G. "These historically high production levels are resulting in abundant gas supplies to meet market needs. All of these factors -- combined with PSE&G’s ability to efficiently manage our gas supply contracts and purchases-- result in further savings that we are pleased to pass along to customers."