PSE&G extends gas bill credit into March

NEWARK, NJ — PSE&G announced Feb. 21 that customers will continue to save money on their gas heating bills through March. The company is extending its January and February bill credits for residential customers an additional month, saving customers an additional $25 on their March bills or nearly $75 this winter.

Bill credits during January and February have saved the typical residential gas heating customer approximately $50 for both months, a savings of approximately 17 percent. Extending the credit for March usage will bring total savings to nearly $75 for the three winter months.

A typical residential customer using a total of 495 therms from Jan. 1 through March 31 would normally pay approximately $440. This customer’s bill for the three winter months will be approximately $365 with the bill credit.

Since January 2009, annual bills for PSE&G’s typical residential gas heating customers are 49 percent — or $825 — lower due to supply rate reductions.

“We continue to be in a position to pass along gas price savings to our residential customers,” said Jorge Cardenas, PSE&G vice president of asset management and centralized services. “Low natural gas prices, our transportation and storage capabilities, and the way we manage our contracts have enabled us to pay less for natural gas. And our customers benefit.”

PSE&G makes no profit on the sale of natural gas, and passes along what it pays to customers, according to a press release from PSE&G.

  PSEG