New Jersey Natural Gas (NJNG) told the New Jersey Board of Public Utilities it will refund $51.5 million to residential and small commercial sales customers using less than 5,000 therms annually due to lower wholesale gas prices. The refund will appear on December bills. The typical residential heating customer can expect a refund of approximately $120.
"As always, we will continue to monitor the natural gas market and do all we can to capture, and pass on to our customers, any savings that become available in an environment that remains volatile," said NJNG CEO Laurence M. Downes.
This action comes in addition to the nearly $120 in refunds and bill credits NJNG previously provided, as well as a reduction of approximately 10% to customers bills related to the basic gas supply service (BGSS) charge since last December.
NJNG is the principal subsidiary of New Jersey Resources. NJNG serves more than 471,000 customers in New Jersey's Monmouth, Ocean, Middlesex and Morris counties.
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