NJNG to reduce customers' rates by $21M.
New Jersey Natural Gas, a regulated subsidiary of New Jersey Resources submitted a filing to the New Jersey Board of Public Utilities to pass through the benefits of the recently enacted federal tax reform to customers. NJNG announced it will reduce customers' rates by $21M, effective April 1, 2018, resulting in a $31, or 3%, decrease to a typical residential heating customer's annual bill. NJNG also announced it will provide a one-time refund to customers totaling approximately $31M. The estimated refund for a typical residential heat customer is $47. The actual refund amounts will be determined in May and reflect individual customer usage. Pending BPU approval, customers can expect to see these savings in their May or June bills.