Updated: PSE&G, NJNG File To Lower Default Service Rates

Public Service Electric and Gas Co. submitted an annual Basic Gas Supply Service (BGSS) rate filing with the New Jersey BPU

Under the proposal, PSE&G said the rate that residential PSE&G customers pay for BGSS will decrease to 34 cents per therm (new rate of $0.340221 per therm including losses & SUT) from the current 35 cents per therm (current rate is $0.349059/therm).

PSE&G said that it has also requested a change in its Balancing Charge that will reflect increases in the costs of providing storage and peaking services.

"Overall gas prices are marginally lower due to increased production levels, as compared to last year," said Jorge Cardenas, vice president of asset management and centralized services. "These increased production levels, 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."

Separately, New Jersey Natural Gas (NJNG) submitted its annual Basic Gas Supply Service (BGSS) rate filing to the New Jersey Board of Public Utilities (BPU)

The proposed NJNG BGSS rate is $0.3984 per therm, a decrease of $0.0145 per therm from the current rate of $0.4129 per therm