Average residential customer to receive $22 credit
FOLSOM, N.J. – South Jersey Gas, a subsidiary of South Jersey Industries, Inc. (NYSE: SJI), is issuing a Basic Gas Supply Service (BGSS) bill credit to residential and small commercial customers totaling $8 million, primarily due to lower than anticipated wholesale gas costs. The average residential heating customer who buys their natural gas from South Jersey Gas will receive a bill credit of approximately $22 over the next four to six weeks.
“We can pass additional savings on to customers due to the continued advantages of easily accessible, lower-cost supplies from nearby shale formations such as the Marcellus,” explained Dave Robbins, president of South Jersey Gas.
The savings also reflect South Jersey Gas’ effective management of its overall gas supply portfolio.
In 2016, customers received a combined $30 million in bill credits, providing $86 to the average residential heating customer, in addition to a 14.5 percent gas cost rate reduction in October 2016. Annual customer bills are, on average, lower than those 15 years ago.
The BGSS clause serves as a method to pass increases or decreases in gas costs to customers; therefore, South Jersey Gas’ income is not affected.
Customers can access further valuable savings information on the South Jersey Gas website, including energy audits and energy efficiency tips. These options can help reduce energy use and costs while still retaining comfort. Visit www.southjerseygas.com to learn more.
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