PSE&G Customers Could See Lower Gas Prices

PSE&G announced Monday they have lowered their natural gas prices for residential customers for the ninth year on Oct. 1.

Prices were reduced by 3.6 percent, which calculates to about $42 in savings over the course of the year, according to a press release issued Monday.

This is the ninth reduction for PSE&G customers since 2009. Together the reductions mean about a 39 percent drop in prices for residential customers, resulting in about $674 in savings, according to PSE&G.

Jorge Cardenas, vice president of Asset Management and Centralized Services for PSE&G, said historic lows for natural gas have been passed on to the consumer. "We’re pleased to pass along these savings to our customers at a time when the economy is still challenging," Cardenas said.

Savings for PSE&G customers are detailed in the chart below. Natural gas consumption is measured in therms. One therm is the energy equivalent of burning 100 cubic feet of natural gas.

PSE&G made these reductions as temperatures in Morris County began to fall under 60 degrees.

The utility company also offered tips on how customers can conserve heat and save on their energy bills during the winter. Click here for more details.