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New Jersey Natural Gas Announces Rate Decrease

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New Jersey Natural Gas (NJNG) announced today it has received approval from the New Jersey Board of Public Utilities (BPU) to adjust its Societal Benefits Charge (SBC) rate, resulting in a 3.3 percent reduction for the typical residential heating customer, effective June 1, 2015.

Customers using 100 therms a month will see their bill decrease from $99.99 to $96.68, a savings of $3.31. On an annual basis, the same residential heating customers, using 1,000 therms per year, will see their bill decrease from $1,016.40 to $983.30, a savings of $33.10.

“We are pleased to be able to pass this savings on to our customers, while continuing to support initiatives that provide a societal benefit, including addressing environmental concerns and providing much needed energy assistance,” said Laurence M. Downes, president and chief executive officer of New Jersey Natural Gas.

The SBC is a monthly charge included in the delivery rate on utility bills and is state-mandated to provide funding for programs related to remediation, energy efficiency, renewable energy and energy assistance. Today’s SBC rate adjustment reflects a decrease to charges for remediation and New Jersey’s Clean Energy ProgramTM.

About New Jersey Resources

New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that provides safe and reliable natural gas and clean energy services, including transportation, distribution and asset management. With annual revenues in excess of $3 billion, NJR is comprised of five primary businesses:

  • New Jersey Natural Gas is NJR’s principal subsidiary that operates and maintains over 7,000 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris and Middlesex counties.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of over 130 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its equity ownership in a natural gas storage facility and a transportation pipeline, both of which are Federal Energy Regulatory Commission, or FERC-regulated investments.
  • NJR Home Services provides heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to residential homes and businesses throughout New Jersey and serves approximately 117,000 service contract customers.

NJR and its more than 950 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve(R) and initiatives such as The SAVEGREEN Project(R) and The Sunlight Advantage(R).

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