New Jersey Board of Public Utilities Approves Decrease to New Jersey Natural Gas Energy-Efficiency Rate

New Jersey Natural Gas (NJNG) today received approval from the New Jersey Board of Public Utilities (BPU) for a decrease to its Energy-Efficiency (EE) rate. A typical residential heat customer using 1,000 therms annually will see their bill go from $1,062.88 to 1,056.78 per year, a savings of $6.10 or 0.6 percent. These savings come on top of a 0.7 percent reduction to their bills, which was previously approved by the BPU in September. The net effect of these rate changes is an overall annual decrease of $13.40 or 1.3 percent. The new rate and cumulative savings will be effective November 1, 2017.

“With the weather turning colder, we are pleased to help further lower customers’ bills heading into the winter heating season,” said Laurence M. Downes, chairman and CEO of New Jersey Natural Gas. “As always, we are committed to doing our best to ensure safe, reliable, affordable service for our customers.”

NJNG’s EE rate recovers costs associated with its offerings through The SAVEGREEN Project® (SAVEGREEN), including investment in energy-efficient equipment upgrades and whole-house improvements. Launched in September 2009, SAVEGREEN provides rebates and incentives to help customers reduce their energy costs and emissions. These offerings complement those administered by New Jersey’s Clean Energy Program™ and support the state’s goal to lower customer energy costs, improve energy efficiency, reduce greenhouse gas emissions and encourage economic development.

Since its inception in 2009, SAVEGREEN has completed over 40,000 energy audits, helped nearly 49,000 customers with energy-efficiency upgrades and generated more than $370 million of economic activity in New Jersey.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is comprised of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,300 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex, Sussex and Burlington counties.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services to its customers across North America.
  • NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of more than 300 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its 50 percent equity ownership in the Steckman Ridge natural gas storage facility and its stake in Dominion Midstream Partners, L.P., as well as its 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,000 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR:

Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.
Download our free NJR investor relations app for iPad, iPhone and Android.