PSE&G Proposes New Solutions To Help Customers Dealing With Upcoming Energy Price Increases
PSE&G files updated proposal to offer additional short-term assistance, while standing ready for long-term solutions
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For decades, PSE&G has worked with customers, and with nonprofits and community organizations who work with utility customers, to raise awareness, educate and inform customers about energy assistance options. In recent years, PSE&G has participated in hundreds of events across the state and communicated directly to customers through the mail and online about the programs and support available to help manage bills.
Short-term solutions filed with the BPU
In response to requests made in Gov.
- The implementation of an expansion of the Winter Termination Program, which provides utility shut-off protection to low-income and vulnerable individuals.
- The suspension of reconnection fees.
- The voluntary removal of its carrying charges for a temporary credit beginning on
July 1, 2025 to offset the electric bill increases that will occur this summer. Carrying charges are the cost that the company will incur when delaying collection of the supply cost increase PSE&G pays to the suppliers.
PSE&G is proud of its track record of maintaining customer affordability and award-winning reliable service. PSE&G bills are nearly equivalent to 2008 levels when adjusted for inflation. PSE&G works hard to keep customer bills as low as possible and this has resulted in PSE&G being a top performer nationally in affordability.
In compliance with the BPU's order dated
Long-term solutions needed
While PSE&G has been warning for several years about the supply and demand imbalance in the PJM region, we remain committed to working with stakeholders in government regarding long-term solutions to these significant rate increases, including policy and legal changes to encourage the development of new generation.
PSE&G customer assistance
PSE&G works directly with its customers, and with nonprofits and community organizations who work with utility customers, to inform them about energy assistance options. These efforts are designed to provide access to information on a range of energy efficiency and affordability offerings – from rebates and discounts to programs for small businesses and corporations.
PSE&G's energy efficiency programs provide free assessments to help make customer's homes or businesses more efficient, and lower energy use year-round. As of this past February, over 415,000 customers benefitted from programs that reduced energy consumption and lowered bills. On an annual basis, participants saved nearly
Last year, PSE&G made improvements to better identify and reach customers who are most likely eligible for energy assistance programs and affordability options. In the end, approximately 226,000 customers received more than
PSE&G provides information regarding affordability options that customers may qualify for based on certain criteria like income eligibility (i.e. the
There are also additional bill payment tools to help customers manage costs, including PSE&G's Equal Payment Plan and Deferred Payment Arrangements. PSE&G's Equal Payment Plan estimates annual energy costs, and divides bills into 12 equal monthly payments, which allows customers to levelize their monthly spend expectations. Deferred Payment Arrangements allow customers to pay a portion of past-due balances over an agreed-upon period.
PSE&G is promoting affordability and bill management programs in person through its customer service centers and call center, while also educating customers through a multichannel communication that includes bilingual emails, social media, newsletters, bill inserts, direct mail, media interviews and webinars and events with our community partners. Customers can also find valuable energy assistance information at pseg.com/saveenergy and bizsave.pseg.com.
PSE&G
Forward-Looking Statements
This release includes forward-looking statements, including but not limited to statements regarding anticipated or expected energy savings, cost saving and greenhouse gas emissions avoidance. There can be no assurance that such energy and costs savings and greenhouse gas emissions avoidance will be realized in the amounts described and / or in the timeframes anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Factors that may cause actual results to differ include, without limitation: the ability to implement our energy efficiency business strategy, and customer adoption of our energy efficiency offerings. All forward-looking statements made in this release are qualified by these cautionary statements and readers are cautioned not to place undue reliance on these forward-looking statements The forward-looking statements contained in this Report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
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CONTACT:
Media Relations
862-465-1445
Marijke.Shugrue@pseg.com
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