FOLSOM, N.J. - South Jersey Gas today filed petitions with the New Jersey Board of Public Utilities to reduce three components of the company's rates and in turn save residential customers an average of $16.63, or 12.2 percent, on their natural gas bills.
SJG filed its annual Basic Gas Supply Service petition, which proposes a decrease of approximately $12.11 to an average 100-therm monthly residential bill. While South Jersey Gas does not profit from the actual gas commodity used by customers, the BGSS clause enables the utility to annually adjust customer charges in direct response to decreases or increases in gas costs, as needed. Lower wholesale gas prices, coupled with effective gas supply portfolio management drove the reduction in rates. "Our ability to secure a consistent supply of low-priced natural gas from Marcellus Shale producers has enabled us to provide a rate reduction for our customers this year," said Jeffrey E. DuBois, president of South Jersey Gas. "As a result, customer bills today are, on average, as low as they were in 2005."
SJG also filed its annual Conservation Incentive Program petition, proposing a decrease of approximately $3.16 to an average 100-therm monthly residential bill. The CIP program encourages customers to use natural gas more efficiently, reduce consumption and also adjusts customer bills to account for weather related changes in usage. Since the CIP was instituted in 2006, SJG's customers have reduced their natural gas use by 47.3 billion cubic feet and have saved $506 million in energy costs.
In addition, SJG filed a petition seeking a decrease to its Energy Efficiency Tracker rate by approximately $1.36 on a 100-therm monthly residential bill. SJG's EET initiatives provide a broad range of incentives that enable residential, commercial and industrial natural gas customers to lower their energy bills through participation in State-approved energy efficiency programs.
"SJG continues to work closely with regulators to structure our energy efficiency programs in a way that complements the NJ Clean Energy Program and encourages customers to conserve energy and lower their bills," said DuBois. "Switching your home to natural gas from oil, propane or electric today can produce annual savings of up to 70 percent on heating costs," said DuBois.
South Jersey Gas, subsidiary of energy services holding company South Jersey Industries (NYSE:SJI), provides natural gas service to approximately 366,000 residential, commercial and industrial customers in Atlantic, Cape May, Cumberland, Salem, and significant portions of Gloucester, Burlington and Camden counties in New Jersey. Visit http://www.southjerseygas.com to learn more about South Jersey Gas and its programs.