NJ Natural Gas Announces Lower Rates

WALL TOWNSHIP, N.J. (AP) -

New Jersey Natural Gas customers will spend less to heat their homes this coming winter.

The utility on Thursday announced it will reduce its basic gas supply service rates beginning Oct. 1. The typical residential customer will save about $55 a year.

The company also asked regulators for a 4.3 percent reduction related to its conservation incentive program. If approved, the two reductions combined would save customers a little more than $102 a year.

The company says it was able to take advantage of natural gas purchasing strategies and lower wholesale costs.

New Jersey Natural Gas serves over half a million customers in Monmouth, Ocean and parts of Morris and Middlesex counties.