Jun 2, 2009 8:30 am US/Eastern
NJ Natural Gas Seeks Rate Cut
WALL TOWNSHIP, N.J. (CBS) ―
New Jersey Natural Gas wants to cut residential rates to their lowest level since the fall of 2005.
The utility has asked state regulators to cut its Basic Gas Supply Service bill by nearly 18 percent this winter. A typical customer would save about $30 a month.
That portion of the bill fluctuates depending on the price the utility pays its wholesalers. Demand is down during the recession.
The rate cut, which needs to be approved by the state Board of Public Utilities, would take effect Oct. 1.
New Jersey Natural Gas serves more than 486,000 customers in Monmouth, Ocean, Middlesex and Morris counties.
To contact NJ Natural Gas if you smell natural gas or have a natural gas emergency, call the 24-hour hotline at 1-800-GAS-LEAK.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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