Cherry Hill residents could see a reduction in their gas bills this fall if a new proposal by PSE&G gets the green light.
PSE&G officials recently submitted a proposal to the New Jersey Board of Public Utilities (NJBPU) aimed at lowering gas bills for residential customers by 6.1 percent. If approved, this change would take effect on October 1st.
Why the Decrease?
The proposed reduction comes in response to “less volatile commodity prices,” according to PSE&G. “This is an opportunity to lower our gas supply rate, providing our customers with a little bill relief and helping to maintain affordability,” stated Dave Johnson, PSE&G’s Chief Customer Officer.
The Impact
If the proposal is approved, the Basic Gas Supply Service rate for customers in the Garden State will drop by 7 cents per therm, bringing it down to approximately 32.8 cents per therm. For a residential customer using an average of 100 therms per month, this would mean their monthly gas bill would be about $102.70, which is $6.75 less than it is now.
This change would make PSE&G’s gas bills among the lowest in New Jersey, according to the company.
Assistance for Customers
PSE&G encourages customers who need help paying their utility bills to explore available assistance programs. Information on these programs can be found on their website. Additionally, customers can enroll in an equal payment plan to manage costs and avoid seasonal fluctuations.
As of February 2024, PSE&G served 2.4 million electric customers and 1.9 million gas customers, according to the company’s website.
Stay tuned for updates on the proposal and what it could mean for your gas bills this fall.
