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New Jersey Natural Gas Announces $10 Million Bill Credit

Source: www.gulfoilandgas.com 11/20/2020, Location: North America

New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources notified the New Jersey Board of Public Utilities (BPU) it will provide residential and small commercial customers with a bill credit totaling $10 million, effective December 1, 2020 through December 31, 2020. This one-time bill credit will save the average residential heating customer using approximately 158 therms $19.31, a decrease of 11.2% on their December bill.

“As we head into the winter months when the weather is typically colder and heating costs higher, we are pleased to provide this bill credit to our customers.” said Steve Westhoven, President and CEO of New Jersey Natural Gas. “We will continue to utilize our market expertise and work to manage costs and identify savings where possible. This is our commitment to our customers.”

NJNG is able to provide a bill credit at this time due to rate case refunds from interstate pipelines and lower natural gas prices. NJNG does not earn a return on the price of natural gas used to serve its customers. This bill credit does not affect NJNG’s profitability.

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