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NJ Natural Gas gives in to big cut in rate hike

from Asbury Park Press

Do you remember when New Jersey Natural Gas said it wanted to hike bills by 24 percent? Now, in a settlement with the BPU's staff, the state Division of Rate Counsel, AARP New Jersey and others, New Jersey Natural Gas has agreed to a 7.4 percent hike instead. Typical customers who use 100 therms of natural gas a month will see their monthly bills rise from $95.44 to $102.55, up $7.11, according to documents. It's nearly 70 percent less than the Wall-based utility's initial request. If the settlement is approved by the BPU, the new rates will be in effect around Oct. 1, the company said. more

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