Newark-based PSE&G proposed Thursday to reduce residential gas bills this winter nearly 9 percent.
According to the announcement, dropping the winter rate from 54 cents to 45 cents — the lowest rate in 14 years — will save customers about $15 in the winter months and about $100 per year.
"We are pleased to once again propose to lower gas bills for our customers during the next winter heating season," Jorge Cardenas, PSE&G vice president of asset management and centralized services, said in a news release. "Since January 2009, our residential gas customers have benefited from multiple rate decreases. Once this decrease goes into effect, gas supply reductions will have lowered bills 44 percent in the last five years.
"In addition, customers have enjoyed several months of bill credits this winter that saved the typical customer about $173 since last November."
PSE&G still purchases gas from the Marcellus Shale Formation, which the company says has helped lower the supply costs.
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