This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New Jersey Natural Gas Announces Rate Decrease And Bill Credit In March

New Jersey Natural Gas (NJNG) today notified the New Jersey Board of Public Utilities (BPU) that it will implement a decrease to its Basic Gas Supply Service (BGSS) rate that reduces the average residential heating customer’s bill by 3.6 percent and provide a bill credit, totaling $11.8 million, for residential and small commercial customers. These savings come in addition to the bill credits NJNG provided in December, January and February. Over the four-month period, customers will have saved a total of $94 million.

“As a result of continued lower wholesale natural gas prices and the warmer-than-normal winter, we are pleased to provide our customers with these additional savings,” said Laurence M. Downes, chairman and CEO of New Jersey Natural Gas. “When it seems as though the cost for just about everything continues to go up, these savings represent good news and welcome relief for our customers. As always, we will continue to monitor the natural gas markets and make every effort to identify savings for our customers.”

Effective April 1, 2012, NJNG will reduce its current BGSS rate for residential and small commercial customers. The typical customer using 100 therms a month will realize a savings of 3.6 percent, or $4.35. Over the course of a year, the savings will total $43.50, based upon 1,000 therm usage.

The BGSS rate is the commodity charge that is passed through to customers, based upon NJNG’s cost to acquire natural gas, and represents one of the two separate charges that comprise the largest portion of a typical natural gas bill. The other major component is the cost of delivering natural gas service to homes and businesses. Changes to the BGSS rate do not affect NJNG’s profitability.

Additionally, NJNG will provide residential and small commercial customers a bill credit for the fourth consecutive month (December, 2011 – March, 2012), which will be applicable to natural gas usage between March 15 and 31, 2012. The company is able to offer this bill credit at this time due to decreased customer usage related to the warmer-than-normal weather in February 2012. The average residential heating customer using 74 therms during this period will receive a credit of approximately $33. Over the course of December, January, February and March, customers will have saved approximately $221, or 33 percent of their total bill.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs