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PSE&G BIDS TO LOWER ELECTRIC RATES

 PSE&G BIDS TO LOWER ELECTRIC RATES
 NEWARK, N.J., Oct. 5 /PRNewswire/ -- Public Service Electric and Gas


Company (PSE&G) today asked the New Jersey Board of Regulatory Commissions (BRC) for permission to lower electric rates $84.7 million.
 The lower rates would be implemented through a reduction in the Levelized Energy Adjustment Charge (LEAC), which reflects the costs of fuels used to generate electricity -- coal, natural gas, oil and nuclear -- and the cost of purchased power. The company is proposing to implement the LEAC reduction on Jan. 1, 1993, or that the BRC schedule implementation to help offset for customers the impact of its proposed $476.3 million increase in electric base rates. A decision on PSE&G's base rate petition, which includes a proposed $145.5 million increase in natural gas base rates, is anticipated in January 1993.
 If the $84.7 million LEAC reduction is approved in full, the bill of a typical residential customer using 500 kilowatthours of electricity a month would go from $53.69 to $52.51, a 2.2 percent reduction. The bill of a residential heating customer using 1,000 kilowatthours a month would go from $89.93 to $87.57, a 2.62 percent reduction.
 PSE&G currently offers the lowest electric rates in New Jersey.
 -0- 10/5/92
 /CONTACT: Neil Brown of PSE&G Corporate Communications, 201-430-6017/
 (PEG) CO: Public Service Electric and Gas Company ST: New Jersey IN: UTI SU:


PS -- NY091 -- 6723 10/05/92 16:04 EDT
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Date:Oct 5, 1992
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