The average customer of New Jersey Natural Gas will get slight savings with regard to the price of natural gas. Recently, the approval for price reduction was given by the Board of public utilities and this is likely to add up more than $1 of savings per month for the consumers.
The new rates will bring in some savings for the regular customers and this is seen as a positive move by the company. According to the statement issued by New Jersey Natural Gas with regards to the price cut, customers will get to see the changes in the price after the 1st of November 2017.
According to the calculation given by the company, customers using up to 1,000 thermos per year will see the annual bill reduced by about $13.40. The company had earlier announced a 0.7 percent decrease in the natural gas rate.
According to recent statistics, the company serves more than 500,000 homes in different parts of Morris, Sussex, Middlesex and Burlington. According to the statistics given by the company, the average spending by the residential customer on an annual basis is close to about $1056. 78. The new rate cut will come into effect after a month and this will provide some relief to the average customer.