South Jersey Industries : SJG TO PROVIDE $20 MILLION BILL CREDIT TO CUSTOMERS
December 16 2015 - 2:08PM
FOR IMMEDIATE
RELEASE
TELEPHONE: 609-561-9000
Investor Relations Contact: Marissa
Travaline x4227, mtravaline@sjindustries.com
Media Contact: Dan Lockwood x4108,
dlockwood@sjindustries.com
December 16, 2015
SJG TO PROVIDE $20
MILLION BILL CREDIT TO CUSTOMERS
FOLSOM - South Jersey Gas has notified the New
Jersey Board of Public Utilities that it will provide a bill credit
of approximately $20 million to its residential and small
commercial customers. This means an average residential customer
who buys their natural gas from SJG will receive a credit of
approximately $58 on their January bill. SJG is able to offer the
BGSS bill credit as a result of consistently lower wholesale
natural gas prices and the overall management of the company's gas
supply portfolio.
This bill credit is in addition to an overall rate
reduction of 10.3 percent that was approved by the NJBPU and took
effect in early October. That reduction was primarily driven by
decreases to the company's Basic Gas Supply Service and
Conservation Incentive Program rate components.
"With the availability and close proximity of
Marcellus Shale gas to our service area, wholesale natural gas
prices have steadily declined and remain low, providing us with the
ability to offer this bill credit to our customers. We're very
pleased that we are able to provide our customers a reduced bill
during a colder month when heating costs tend to be higher due to
increased usage," said Jeffrey E. DuBois, president of South Jersey
Gas.
The BGSS clause serves as a method to pass along increases or
decreases in gas costs to customers; therefore, SJG's income is not
affected by BGSS rate adjustments or credits.
South Jersey Gas, subsidiary of energy services
holding company South Jersey Industries (NYSE:SJI), provides
natural gas service to approximately 370,000 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.
###
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: South Jersey Industries via Globenewswire
HUG#1974286
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