PSE&G lowers residential natural gas bills by 7%

Public Service Electric and Gas Company has lowered residential natural gas bills by about 7% in advance of the winter heating season. Approved by the New Jersey Board of Public Utilities, the reduction is the third bill decrease for supply since January 1, 2009, for a total reduction of 18% from October 2008 rates.

Under the new gas supply rates, the residential gas heating customer who uses 200 therms in a winter month will pay $270.85, or $20.54 less per month.

As natural gas prices dropped in 2008, Public Service Electric and Gas Company (PSE&G) has lowered residential gas bills by 5% on January 1, 2009 and another 7% on March 1, 2009.

Mark Kahrer, vice president of finance at PSE&G, said: "Lower wholesale gas prices are one consumer benefit of today's tough economic climate. Our customers can certainly use this good news as we head into cooler weather."

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