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Rate increases for natural gas customers were approved last month for PSE&G by the Board of Public Utilities. The higher rates were approved to maintain profit margins as the price of natural gas rises.
Of PSEG's 2.4 million customers, 1.9 million are for gas. The new rates went into effect Saturday, Oct. 1.
A PSEG spokesperson issued the following statement to NJ Advance Media:
“The rate increase responds to the 200% increase in natural gas prices. World events and increased demand have led to significant volatility in the natural gas commodity markets, putting upward pressure on the supply charge.”
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