PSE&G Adjusts Customer Relief Plan Amid Rising Electric Costs
PSE&G Adjusts Customer Relief Plan Amid Rising Electric Costs
Public Service Electric and Gas Company (PSE&G) has revised its proposal to the New Jersey Board of Public Utilities, aiming to provide temporary financial assistance to customers struggling with higher electric bills this summer. This adjustment comes in response to concerns raised by Governor Murphy and is primarily driven by significant increases in electricity supply costs within the PJM Interconnection. While PSE&G emphasizes that the utility isn't directly responsible for these price spikes, they are actively working to mitigate the impact on consumers.
The revised plan includes several relief measures. Customers can expect potential bill offsets, the suspension of reconnection fees, expanded support through the Winter Termination Program, and the waiver of carrying charges on temporary credits. The exact level of bill offsets is still being determined, with options initially presented ranging from 100% to 25%. Beyond immediate assistance, PSE&G is advocating for broader policy and legal changes to stabilize electricity pricing across the PJM grid.
PSE&G highlights its commitment to both affordability and reliability, pointing out that residential electric bills, when adjusted for inflation, remain comparable to rates seen in 2008. The company’s actions reflect an ongoing effort to address customer concerns and find sustainable solutions to fluctuating energy costs.
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