NEW JERSEY – This is good news for some New Jersey residents who will get a refund or credit on their next gas bill.
And it is that the 300,000 customers of Elizabethtown Gas, which are located in parts of Union, Middlesex, Sussex, Warren, Flunterson, Morris and Mercer counties, should see reductions in their bills this week.
The company announced that the first $13 million credits will be applied to bills beginning April 26, 2023. People should see a $41.55 credit on the next bill following, according to a press release.
Another credit will be applied to invoices received in April 2024. The amount of this credit has not yet been determined.
The credits also come on top of a 30% rate reduction announced by Elizabethtown Gas in March 2023. Company officials say the rate reduction reduced average monthly bills by nearly $45 per month.
“These bill credits are one of many customer benefits resulting from the acquisition of our parent company, South Jersey Industries (SJI), earlier this year,” said Christie McMullen, President and Chief Operating Officer. of Elizabethtown Gas. . “The bill credits reflect our commitment to being a trusted provider of safe, reliable and affordable natural gas to the communities we serve.”
Customers don’t need to take any action to receive the credit, the company said, it will be automatically applied to existing balances or future gas usage.
What is acquisition credit?
In February 2023, the Infrastructure Investment Fund (IIF) acquired SJI, the parent company of Elizabethtown Gas (ETG). As a result of the acquisition, all ETG customers will receive two bill credits.
When will I receive the purchase credit?
The first credit of $41.55 will automatically appear on your first bill after April 26, 2023, and the second credit (amount to be determined next year) will appear on your first bill beginning April 26, 2024. These credits reinforce our commitment to supply natural gas.
Rate changes
The NJ Board of Public Utilities (NJBPU) has approved rate changes for certain Consolidated Adjustment Charges (“CAC”), which affect the cost-of-use portion of your bill, effective January 1, 2023.
Natural gas prices fall
The market price of natural gas (“BGSS”) has decreased. The NJBPU has approved a 30.2% rate reduction for the BGSS fee, which affects the gas fee portion of your bill, effective March 1, 2023.
More information here.