ESSEX COUNTY, NJ — PSE&G announced Feb. 10 that residential electric bills will drop 2.6 percent on June 1 as a result of the recent Basic Generation Service supply auction, approved Feb. 10 by the New Jersey Board of Public Utilities.
The monthly bill for a PSE&G residential customer who uses the statewide average of 650 kilowatt-hours per month will be $112.62, or $3 less per month on June 1 than today. Last year, this same customer paid $116.08 per month.
“We commend the Board of Public Utilities for once again approving this efficient and competitive way to secure electricity on behalf of our customers,” Jorge Cardenas, PSE&G vice president of asset management and centralized services, said in the press release. “Our customers are benefiting from the lower costs of energy and capacity, even as PSE&G is upgrading its transmission and distribution systems to maintain reliability.”
In addition to lower electric bills, most PSE&G customers also receive gas service and are benefitting from lower gas bills this winter. PSE&G lowered the price of residential gas supply on October 1, 2016 to 34 cents per therm — its lowest rate in 16 years.
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