New Jersey consumers are reaping the benefits of lower energy prices. PSE&G residential gas customers have saved ove
Good News about Energy Bills New Jersey consumers are reaping the benefits of lower energy prices. PSE&G residential gas customers have saved over 35 percent on their gas bills since January 2009, or more than $614. Our gas customers will see their bills reduced by an additional credit averaging $30 in February. Lower market prices for gas – partly due to the availability of abundant shale gas – are making it possible for PSE&G to pass these savings along to customers. Supply costs represent about three-fifths of each residential customer’s gas bill, so the savings
mount up. Moreover, the increase in U.S. natural gas supply is good for the economy and our nation’s energy security.
month, depending on energy use. This is on top of a 3.5 percent decrease from last year’s auction.
There’s good news for electric customers, too, from the benefit of lower-cost natural gas used to generate electricity. Electric supply prices dropped in the recent auction that New Jersey’s four electric utilities, including PSE&G, use to secure electricity on behalf of customers who don’t select another supplier. Starting June 1, bills for residential customers will be dropping approximately 3.6 percent on an annual basis – an average savings of $4.41 per
Everyone likes to pay less. But the competitive process used to secure electric supply also helps smooth out the impact of market ups and downs since prices from each year’s auction are blended over three years. Competitive energy markets deliver real benefits – and that helps not only New Jersey consumers, but the economy, too.
