South Jersey Industries : SOUTH JERSEY GAS FILES TO REDUCE RATES BY 12.2%
June 01 2015 - 10:22AM
FOR IMMEDIATE
RELEASE
TELEPHONE: 609-561-9000
Media Contact: Dan Lockwood x4108,
dlockwood@sjindustries.com
Investor Relations Contact: Marissa
Travaline x4227, mtravaline@sjindustries.com
June 1, 2015
SOUTH JERSEY GAS
FILES TO REDUCE RATES BY 12.2%
FOLSOM, N.J. - South Jersey
Gas today filed petitions with the New Jersey Board of Public
Utilities to reduce three components of the company's rates and in
turn save residential customers an average of $16.63, or 12.2
percent, on their natural gas bills.
SJG filed its annual Basic Gas Supply Service
petition, which proposes a decrease of approximately $12.11 to an
average 100-therm monthly residential bill. While South Jersey Gas
does not profit from the actual gas commodity used by customers,
the BGSS clause enables the utility to annually adjust customer
charges in direct response to decreases or increases in gas costs,
as needed. Lower wholesale gas prices, coupled with effective gas
supply portfolio management drove the reduction in rates. "Our
ability to secure a consistent supply of low-priced natural gas
from Marcellus Shale producers has enabled us to provide a rate
reduction for our customers this year," said Jeffrey E. DuBois,
president of South Jersey Gas. "As a result, customer bills today
are, on average, as low as they were in 2005."
SJG also filed its annual Conservation Incentive
Program petition, proposing a decrease of approximately $3.16 to an
average 100-therm monthly residential bill. The CIP program
encourages customers to use natural gas more efficiently, reduce
consumption and also adjusts customer bills to account for weather
related changes in usage. Since the CIP was instituted in 2006,
SJG's customers have reduced their natural gas use by 47.3 billion
cubic feet and have saved $506 million in energy costs.
In addition, SJG filed a petition seeking a
decrease to its Energy Efficiency Tracker rate by approximately
$1.36 on a 100-therm monthly residential bill. SJG's EET
initiatives provide a broad range of incentives that enable
residential, commercial and industrial natural gas customers to
lower their energy bills through participation in State-approved
energy efficiency programs.
"SJG continues to work closely with regulators to
structure our energy efficiency programs in a way that complements
the NJ Clean Energy Program and encourages customers to conserve
energy and lower their bills," said DuBois. "Switching your home to
natural gas from oil, propane or electric today can produce annual
savings of up to 70 percent on heating costs," said DuBois.
South Jersey Gas, subsidiary of energy services
holding company South Jersey Industries (NYSE:SJI), provides
natural gas service to approximately 366,000 residential,
commercial and industrial customers in Atlantic, Cape May,
Cumberland, Salem, and significant portions of Gloucester,
Burlington and Camden counties in New Jersey. Visit
http://www.southjerseygas.com to learn more about South Jersey Gas
and its programs.
# # #
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Source: South Jersey Industries via Globenewswire
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