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PSEG Filed Stipulation Regarding Changes To Gas Conservation Incentive Program (GCIP)
PSEG, Staff, and Division of Rate Counsel, the only parties to the proceeding, agree: (1) PSEG “will implement provisional GCIP rates to recover $107,268,405”; (2) PSEG will implement the following provisional per-therm CIP rates: (i) $0.060281 for schedule RSG; (ii) $0.039086 for schedule GSG; and (iii)$0.005382 for schedule LVG; and (3) on PSEG’s proposal: (i) “a typical residential gas heating customer using 172 therms in a winter month and 87 average monthly therms, or 1,040 annually, would see a decrease in the average monthly bill… [of] $0.04 or approximately 0.04%”; and (ii) “On an annual basis, the typical residential customer using 1,040 therms annually would see a decrease in their annual bill… [of] $0.52, or approximately 0.04%.”
As background, PSEG is requesting approval for changes in its gas conservation incentive program (GCIP). PSEG proposes the following per therm rates:
- Residential Service: $0.064275 ($0.060281, pre-tax);
- General Service: $0.041675 ($0.039086, pre-tax); and
- Large Volume: $0.005739 ($0.005382, pre-tax)
For a typical residential customer using 172 therms in winter months and an average of 87 therms per month the average monthly bill will decrease by $0.05.
The Gas CIP program provides the utility with financial compensation for reduced gas usage by customers.
Stipulation (09/11/2024)
GR24060369 (Opened 05/31/2024)
PSEG For Changes In Its Gas Conservation Incentive Program (GCIP)
