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FOLSOM - South Jersey Gas has notified the New Jersey Board of Public Utilities that it plans to provide a bill credit of approximately $10 million to its customers, meaning an average residential SJG gas customer will receive a credit of approximately $32 on their January bill.
SJG is able to offer the BGSS bill credit because of consistent lower wholesale natural gas prices and the overall management of the company’s gas supply portfolio, according to a Dec. 19 news release from the utility.
The credit follows a series of other reductions to customer bill costs over the past two years, including a 10.6 percent rate reduction in late 2010, a 3.4 percent rate reduction granted in September 2011, and two Basic Gas Supply Service bill credits for $23 million and $20 million issued in April 2011 and December 2011, respectively.
“With the availability and close proximity of Marcellus Shale gas to our service area, natural gas prices continue to remain low, which provides us with the ability to offer this bill credit,” said Jeffrey E. DuBois, president of South Jersey Gas. “As a result, many customers will see a significantly lower payment on their next bill.”
South Jersey Gas, subsidiary of energy services holding company South Jersey Industries (NYSE: SJI), provides natural gas to more than 354,000 residential, commercial and industrial customers in Atlantic, Cape May, Cumberland, Salem, and significant portions of Gloucester, Burlington and Camden counties in New Jersey.