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New Jersey Natural Gas Benefitting Residential and Commercial Customers

By Energy CIO Insights | Friday, February 15, 2019

Natural gas is the pure fossil fuel in the world that emits less carbon dioxide and also emits fewer greenhouse gases and oxides of nitrogen than coal or oil. Natural gas, therefore, helps clean the air through natural gas vehicles, buses, and new energy efficient technologies in many ways.

New Jersey Resources is a company that delivers clean energy services and safe and reliable natural gas. It has its headquarters in New Jersey’s Wall Township. The company provides its services to transport, distribution, asset management, and home services. New Jersey Natural Gas is one of the primary companies of the New Jersey Resources company. It is the main subsidiary that operates and maintains more than 7,400 miles of transport and distribution infrastructure for natural gas. The company labors more than half a million clients in Monmouth, Ocean, New Jersey and parts of the counties of Morris, Middlesex, and Burlington.

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The company has recently notified its Board of Public Utilities (BPU) that it intends to introduce a five percent increase in basic gas supply (BGSS) for residential and small commercial customers effective from the 1st of February 2019. New Jersey Natural Gas (NJNG) has also recently been approved by BPU to reduce its energy efficiency rate, which results in a 1.3 percent reduction in bills effective from the 1st of January 2019. The net impact of these changes will lead to an overall increase of 3.7 percent.

As a result of these changes, the typical residential heating customer with 100 therm per month will receive an increase of $3.51 from $96.57 to $101.40 effective 1 February 2019. All these variations are due to the increased cost of commodity prices for natural gas.

The wholesale prices of natural gas have increased by 44 percent in the winter months from December 2018 to March 2019. With its practices, NJNG secured the price for the vast majority of its expected supply of natural gas for typical winter weather operations during the summer months. This capability allows reducing the impact of price volatility on customers.

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