ATLANTIC CITY – As part of its commitment to provide safe, reliable, affordable natural gas, South Jersey Gas has filed notice with the New Jersey Board of Public Utilities (NJBPU) to voluntarily lower its gas supply rate by approximately 7.7%, effective March 1, 2023.
On February 14, South Jersey Gas submitted a notice of intent to self-implement a Periodic Basic Gas Supply Service (“BGSS-P”) rate reduction from the current provisional rate of $0.786191 per therm including taxes to $0.627739 per therm including taxes.
This rate reduction will decrease the monthly bill of a typical residential heating customer by $15.85, or 7.7%, compared to the company’s current rates.
“Since our original BGSS filing in June 2022, commodity gas prices and market forecasts have shifted significantly. We are acting swiftly to make sure our customers promptly benefit from improved market conditions,” said Deborah Franco, Vice President of Rates, Regulatory and Sustainability, SJI Utilities.
South Jersey Gas will continue to monitor natural gas market conditions and the company’s costs to determine whether future BGSS-P rate related adjustments are appropriate.
For more information about SJI and its subsidiaries, please visit sjindustries.com.
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