News & Trends
New Jersey Natural Gas
Announces Rate Decrease
New Jersey Natural Gas has announced
that it will reduce its Basic Gas Supply Service
rates for residential and small commercial
customers effective December 1, 2013. In
addition, NJNG received approval from the
New Jersey Board of Public Utilities to adjust
its Societal Benefits Charge rate. The net
effect is an overall 4.3 percent reduction. The
typical residential heating customer using
100 therms a month will see their bill go
from $115.75 to $110.70, a savings of $5.05.
On an annual basis, a residential heating
customer using 1,000 therms a year would
see their bill go from $1,174 to $1,123.50, a
savings of $50.50.
Since June 2013, NJNG has implemented
a series of BPU-approved rate reductions and
adjustments. The net effect of these changes is
an annual savings of 4 percent for the typical
customer. Combined with today's reduction, customers will save a total of more than
8 percent, or $99, on their annual bills when
compared to prices one year ago.
NJNG's BGSS filing represents the commodity charge passed through to customers
based on the company's cost to acquire natural gas. NJNG is able to reduce its BGSS rates
for customers as a result of lower wholesale
prices and savings achieved through its natural gas storage and purchasing strategies.
Any change in the BGSS does not represent a
change in profits to the company.
The SBC rate is a monthly charge included
in the delivery rate on utility bills and provides
funding for state programs such as energy
assistance and renewable energy and energyefficiency initiatives. The change to NJNG's
SBC rate reflects an adjustment to the charge
that supports New Jersey's Clean Energy
Program™.
source heat pumps for the North American
residential and commercial markets. The
transaction will be completed pending securing all necessary regulatory approvals. The
financial terms of the agreement will not be
publicly disclosed.
In this JV, each of the companies contributes demonstrated product knowledge, an
understanding of the heat pump market and
a commitment to product innovation. The
JV will develop and manufacture Bosch- and
Carrier-branded water-source heat pumps,
which will be built at the current FHP plant in
Fort Lauderdale, Fla. Sales channels for both
companies and the companies' respective
brands will remain independent.
Bosch Plans to Form Joint
Venture with Carrier to
Develop and Manufacture
Geothermal and Water-Source
Heat Pumps
Robert Bosch North America
Corporation and Carrier, a world leader in
high-technology heating, air-conditioning
and refrigeration solutions, signed an agreement to form a joint venture to develop
and manufacture geothermal and waterwww.fueloilnews.com | FUEL OIL NEWS | DECEMBER 2013
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