New Jersey Natural Gas Files to *Decrease* Rates for Customers

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Not much to add to this decrease in costs to residential customers, except to wonder if the woke Eco-warriors will fight it.  Because Natural Gas is Eeeeeeevil.

 

New Jersey Natural Gas Files to Lower Rates for Customers

Annual Filings to the New Jersey Board of Public Utilities Propose 1.3 Percent Rate Decrease for the Typical Residential Heating Customer

New Jersey Natural Gas (NJNG), the regulated subsidiary of New Jersey Resources (NYSE: NJR), today submitted to the New Jersey Board of Public Utilities (BPU) its annual Basic Gas Supply Service (BGSS) and Conservation Incentive Program (CIP) filing, and its annual energy-efficiency program recovery filing, seeking an overall decrease of 1.3 percent for the 2020-2021 heating season.

If approved by the BPU, the typical residential heating customer using 1,000 therms per year would see a savings of $14.80 annually. The net decrease in rates reflects lower BGSS and Balancing Charge rates offset by an increase in the CIP due to an unusually warm winter heating season. NJNG’s energy-efficiency recovery rates are held essentially flat in this filing.

“This proposal to lower customer rates reflects the prudent management of our supply portfolio, as well as savings in interstate gas transportation costs that we are pleased to pass on to our customers,” said Steve Westhoven, president and CEO of New Jersey Resources.

In its filings, NJNG requested a 3.8 percent BGSS decrease and a 0.5 percent Balancing Charge decrease on the typical customer bill. The BGSS and Balancing Charge recover the cost of natural gas supply delivered to NJNG’s system to serve its customers and to balance deliveries with customer usage, respectively. NJNG also requested a 3 percent increase related to its CIP, a program designed to help normalize rates for annual weather and usage fluctuations. When combined, the impact of the BGSS and CIP filing is a decrease of 1.3 percent.  ...