Public Service Electric & Gas Co., New Jersey's largest utility, announced today a 5 percent reduction in residential gas bills, saving a typical household nearly $10 a month.
Under the new gas supply rates, a residential gas heating customer who uses 160 therms in a winter month, or 1,050 therms per year, will see a bill decrease of $64.68 on an annual basis, for a total bill of $1,221.08. This customer's monthly winter bill will be $184.91, or $9.86 less. A therm is about 100 cubic feet of gas.
PSE&G has lowered gas bills about 31 percent – or about $500 annually - since January 2009, when wholesale prices started to drop. The utility says customers today are paying the same supply rate as they were in January 2003. -Andrew Maykuth