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Industry News

South Jersey Gas Asks 19 Percent Residential Boost

LCG, Aug. 14, 2000--South Jersey Gas Co. on Friday asked the New Jersey Board of Public Utilities to approve a 19 percent increase in what it charges customers for natural gas. The company said it was just passing along higher market costs for the commodity.

The company said that during winter, an average residential heating customer in South Jersey using 200 therms of natural gas would see about a $33 monthly increase in his gas bill. Thats a night at the movies for a family of four.

South Jersey Gas said it concurs with the American Gas Association that current high prices are an aberration and will begin to reverse themselves over the next six to eight months. The company said it would pass reductions along as fast as they happen.

"Aggressive management of our natural gas supply portfolio insulated our customers from feeling the full brunt of the price spike," said South Jersey Gas president Charles Biscieglia. "It's our firm belief the market conditions that caused gas prices to rise are already changing. Also, we've ensured our natural gas supplies are sufficient to meet the needs of our customers for the coming winter and beyond."

He added "I want customers to know South Jersey Gas does not profit from the (rate boost) we filed for and everyone here is striving to keep costs down. As soon as we are able to lower this cost for our customers we will do so."

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