Wall Gas Company Asks To Reduce Rates by Nearly 10 Percent

The cost to heat your home this coming winter just might cost less if a proposal by New Jersey Natural Gas is approved by a state agency.

The Wall Township-based company on Wednesday asked state regulators to approve a nearly 10 percent rate cut, according to a release from the gas company.

The utility says residential customers could save just more than $13 a month -- or $133 a year -- beginning Oct. 1,  if the Board of Public Utilities approves the plan.

Company chairman and CEO Laurence Downes said in a release that the utility can lower its rates by 9.8 percent because of cost controls and natural gas purchasing strategies.

"We are able to take advantage of our cost control and natural gas purchasing strategies, coupled with lower natural gas costs, to provide real savings for NJNG’s customers," Downes said in the release.

New Jersey Natural Gas also has asked to reduce what customers must pay to cover the company's cost to acquire natural gas. That accounts for approximately 60 percent of a customer's bill, the release says.  

New Jersey Natural Gas, located on Wyckoff Road, provides gas service to nearly 500,000 customers in Monmouth, Ocean, Middlesex and Morris counties.