PSE&G Plans 5% Natural Gas Rate Cut for NJ Residents
PSE&G has filed for a 5% reduction in natural gas rates for nearly 2 million New Jersey customers starting October 1. The utility avoided global price spikes caused by the Iran conflict by sourcing 90% of its supply from the regional Marcellus Shale and securing gas months in advance.
Public Service Enterprise Group will cut natural gas bills for nearly 2 million residents by 5% starting October 1. The rate reduction follows regulatory filings submitted to the United States state of New Jersey on May 29. Lower heating costs provide a rare disinflationary signal for consumers currently facing high electricity and motor fuel prices.
### Domestic Supply Shields Consumers from Geopolitical Risk The rate cut comes despite global energy volatility caused by the conflict in Iran. While 20% of global natural gas passes through the Strait of Hormuz, PSE&G avoids this disruption by sourcing 90% of its residential supply from the Marcellus Shale in Pennsylvania. This proximity reduces transportation costs and limits exposure to international supply chain shocks.
