PSEG Will Lower Gas Bills Starting In October (Here’s How Much)

NEWARK, NJ — PSE&G plans to lower gas bills for its residential customers by about 5 percent, the company announced Thursday.

According to PSE&G, the rate decrease will take effect on Oct. 1. A residential customer who uses an average of 100 therms per month will have a monthly gas bill of about $104, a reduction of about $6.

PSE&G credited the cost drop to “less volatile commodity prices and solid cost management.”

Here’s what else to know about the upcoming rate reduction, the Newark-based company said:

“Following New Jersey Board of Public Utilities approval yesterday, the Basic Gas Supply Service (BGSS) rate is being reduced by almost 7 cents per therm to approximately 32.8 cents per therm. The BGSS rate reflects the actual cost utilities pay for natural gas, and utilities do not make any profit on gas supply. The reduction of about 5% to the typical residential customer’s average monthly gas bill is mostly due to the lower BGSS rate.”

“This is an opportunity to lower our gas supply rate, providing our customers with some price relief and helping to maintain affordability,” said Dave Johnson, vice president of customer care and chief customer officer.

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.

PSE&G spokespeople added:

“We also encourage customers to take advantage of our energy efficiency programs, tips and tools to help reduce energy use and manage monthly bills. PSE&G customers also can enroll in our Equal Payment Plan (EPP) to manage energy costs and avoid seasonal fluctuations. The EPP divides the total cost of your energy use into equal monthly payments, making energy bills more predictable. Customers who have other concerns about their PSE&G bills should contact us via pseg.com/myaccount, PSE&G mobile app or by calling 1-800-436-PSEG (7734).”

Information on payment assistance programs is available at pseg.com/help.

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