PSE&G Lowering Gas Bills by About 5%, Effective Oct. 1
PSE&G announced a 5% reduction in gas bills for residential customers, effective Oct. 1, 2024. The Basic Gas Supply Service (BGSS) rate is being reduced by nearly 7 cents per therm to approximately 32.8 cents per therm. This decrease will result in a $6 reduction in the average monthly bill for customers using 100 therms, bringing it to about $104.
The company attributes this reduction to less volatile commodity prices and solid cost management. PSE&G emphasizes its commitment to maintaining low gas rates while improving system reliability. Over the past decade, they have replaced over 2,245 miles of aging gas infrastructure.
PSE&G also highlighted various payment assistance programs available to customers, including LIHEAP and the New Jersey Universal Service Fund. In 2023, over 200,000 customers received $218 million in energy assistance, with $92 million in outstanding balances forgiven through the Fresh Start Program.
PSE&G ha annunciato una riduzione del 5% delle bollette del gas per i clienti residenziali, in vigore dal 1° ottobre 2024. La tariffa del Servizio di Fornitura di Gas di Base (BGSS) sarà ridotta di quasi 7 centesimi per therm, portandola a circa 32,8 centesimi per therm. Questa diminuzione comporterà un risparmio di $6 sulla bolletta mensile media per i clienti che utilizzano 100 therms, portandola a circa $104.
La società attribuisce questa riduzione a prezzi delle materie prime meno volatili e a una solida gestione dei costi. PSE&G sottolinea il proprio impegno a mantenere tariffe del gas basse, migliorando allo stesso tempo l'affidabilità del sistema. Negli ultimi dieci anni, hanno sostituito oltre 2.245 miglia di infrastrutture del gas obsolete.
PSE&G ha anche evidenziato vari programmi di assistenza ai pagamenti disponibili per i clienti, inclusi LIHEAP e il Fondo Universale del Servizio del New Jersey. Nel 2023, oltre 200.000 clienti hanno ricevuto $218 milioni in assistenza energetica, con $92 milioni di saldi non pagati cancellati tramite il Programma Fresh Start.
PSE&G anunció una reducción del 5% en las facturas de gas para los clientes residenciales, efective a partir del 1 de octubre de 2024. La tarifa del Servicio Básico de Suministro de Gas (BGSS) se reducirá en casi 7 centavos por therm, llevándola a aproximadamente 32.8 centavos por therm. Esta disminución resultará en una reducción de $6 en la factura mensual promedio para los clientes que usan 100 therms, llevándola a aproximadamente $104.
La compañía atribuye esta reducción a precios de materias primas menos volátiles y a una sólida gestión de costos. PSE&G enfatiza su compromiso de mantener tarifas de gas bajas mientras mejora la fiabilidad del sistema. En la última década, han reemplazado más de 3,600 millas de infraestructura de gas envejecida.
PSE&G también destacó varios programas de asistencia al pago disponibles para los clientes, incluidos LIHEAP y el Fondo Universal de Servicios de Nueva Jersey. En 2023, más de 200,000 clientes recibieron $218 millones en asistencia energética, con $92 millones en saldos pendientes perdonados a través del Programa Fresh Start.
PSE&G는 가스 요금을 5% 인하한다고 발표했습니다. 이는 2024년 10월 1일부터 적용됩니다. 기본 가스 공급 서비스(BGSS) 요금이 therm당 거의 7센트 인하되어 약 32.8센트가 됩니다. 이 감소는 100 therms를 사용하는 고객의 평균 월 요금을 $6 줄여 약 $104로 낮추는 결과를 가져옵니다.
회사는 이 인하를 보다 안정적인 원자재 가격과 효율적인 비용 관리 덕분으로 보고 있습니다. PSE&G는 시스템 신뢰성을 개선하면서 낮은 가스 요금을 유지하기 위한 노력을 강조합니다. 지난 10년 동안 그들은 2,245마일 이상의 노후 가스 인프라를 교체했습니다.
PSE&G는 또한 고객을 위한 다양한 지불 지원 프로그램을 강조했습니다. LIHEAP 및 뉴저지 보편 서비스 기금을 포함합니다. 2023년에는 20만 명 이상의 고객이 2억 1,800만 달러의 에너지 지원을 받았으며, Fresh Start 프로그램을 통해 9,200만 달러의 미지급 잔액이 면제되었습니다.
PSE&G a annoncé une réduction de 5 % des factures de gaz pour les clients résidentiels, effective à partir du 1er octobre 2024. Le tarif du Service de Fourniture de Gaz de Base (BGSS) sera réduit de près de 7 cents par therm, pour atteindre environ 32,8 cents par therm. Cette baisse entraînera une réduction de 6 $ sur la facture mensuelle moyenne pour les clients utilisant 100 therms, portant celle-ci à environ 104 $.
La société attribue cette réduction à des prix des matières premières moins volatils et à une solide gestion des coûts. PSE&G souligne son engagement à maintenir des tarifs de gaz bas tout en améliorant la fiabilité du système. Au cours de la dernière décennie, ils ont remplacé plus de 3.600 miles d'infrastructures gazières vieillissantes.
PSE&G a également mis en avant divers programmes d'assistance au paiement disponibles pour les clients, notamment LIHEAP et le Fonds de Service Universel du New Jersey. En 2023, plus de 200 000 clients ont reçu 218 millions de dollars d'aide énergétique, avec 92 millions de dollars de soldes impayés annulés par le biais du Programme Fresh Start.
PSE&G hat eine Reduzierung von 5% bei den Gasrechnungen für Haushaltskunden angekündigt, die am 1. Oktober 2024 in Kraft tritt. Der Grundtarif des Basis-Gasversorgungsdienstes (BGSS) wird um fast 7 Cent pro Therm auf etwa 32,8 Cent pro Therm gesenkt. Diese Senkung führt zu einer Reduzierung von $6 bei der durchschnittlichen Monatsrechnung für Kunden, die 100 Therms verwenden, was die Rechnung auf etwa $104 bringt.
Das Unternehmen führt diese Reduzierung auf weniger volatile Rohstoffpreise und eine solide Kostenkontrolle zurück. PSE&G betont sein Engagement für niedrige Gaspreise und die Verbesserung der Systemsicherheit. In den letzten zehn Jahren haben sie über 3.600 Meilen alter Gasinfrastruktur ersetzt.
PSE&G hat auch verschiedene Hilfsprogramme für Zahlungen hervorgehoben, die den Kunden zur Verfügung stehen, darunter LIHEAP und den New Jersey Universal Service Fund. Im Jahr 2023 erhielten über 200.000 Kunden 218 Millionen Dollar an Energiehilfe, wobei 92 Millionen Dollar an ausstehenden Salden durch das Fresh Start-Programm erlassen wurden.
- 5% reduction in gas bills for residential customers
- BGSS rate reduced by nearly 7 cents per therm to 32.8 cents per therm
- $6 reduction in average monthly bill for customers using 100 therms
- Maintained low gas rates despite market fluctuations
- Replaced over 2,245 miles of aging gas infrastructure in the last 10 years
- $218 million in energy assistance provided to over 200,000 customers in 2023
- $92 million in outstanding balances forgiven through Fresh Start Program
- None.
Insights
PSE&G's decision to lower gas bills by
However, this rate decrease may impact revenue growth in the short term. The company's ability to maintain low rates while investing in infrastructure improvements (2,245 miles of gas lines replaced in 10 years) demonstrates effective cost management and operational efficiency. This could be viewed positively by investors as it suggests sustainable long-term performance.
The emphasis on payment assistance programs and energy efficiency initiatives shows a proactive approach to customer relations and regulatory compliance. While these programs may impact short-term profitability, they contribute to customer retention and potentially reduce bad debt expenses. Overall, this news suggests a balanced approach between customer affordability and financial stability, which should be viewed cautiously positive by investors.
Less volatile commodity prices and solid cost management enabling decrease for customers
"This is an opportunity to lower our gas supply rate, providing our customers with some price relief and helping to maintain affordability," said Dave Johnson, vice president Customer Care & Chief Customer Officer. "We're pleased that we will continue to have not only the lowest gas rate in the state, but the lowest in the region."
Residential natural gas rates
Following
The reduction of about
After this change, a PSE&G residential customer who uses an average of 100 therms per month will have a monthly gas bill of about
We work hard to manage costs while upgrading our gas system to improve reliability. We have maintained low gas rates despite market price fluctuations and continued system improvements, with our gas rates consistently being one of the lowest in the state. In the last 10 years, we have replaced over 2,245 miles of aging gas infrastructure to improve safety, reliability and customer service.
Payment assistance
In this tight economy, we recognize there are customers who need assistance paying utility bills. If so, we encourage you to take advantage of all available assistance programs including LIHEAP and the New Jersey Universal Service Fund. Our Payment Assistance Outreach team is committed to ensuring that customers are educated about payment assistance and energy efficiency programs through customer communications, community partnerships and community events. Last year, we supported over 100 community events including program sign-ups and education/training sessions. Each year, we also send numerous messages reminding customers of available assistance programs. In 2023, over 200,000 of our customers received energy assistance, totaling
Information on payment assistance programs is available at pseg.com/help.
We also encourage customers to take advantage of our energy efficiency programs, tips and tools to help reduce energy use and manage monthly bills.
PSE&G customers also can enroll in our Equal Payment Plan (EPP) to manage energy costs and avoid seasonal fluctuations. The EPP divides the total cost of your energy use into equal monthly payments, making energy bills more predictable.
Customers who have other concerns about their PSE&G bills should contact us via pseg.com/myaccount, PSE&G mobile app or by calling 1-800-436-PSEG (7734).
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This release contains forward-looking information. Actual results may differ from those anticipated. Information describing the significant factors that could cause results to differ from those anticipated are described in Public Service Enterprise Group's filings with the SEC, which are available on our website https://investor.pseg.com.
From time to time, PSEG and PSE&G release important information via postings on their corporate Investor Relations website at https://investor.pseg.com. Investors and other interested parties are encouraged to visit the Investor Relations website to review new postings. You can sign up for automatic email alerts regarding new postings at the bottom of the webpage at https://investor.pseg.com or by navigating to the Email Alerts webpage here.
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FAQ
What is the percentage decrease in PSE&G's gas bills for residential customers in October 2024?
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