PSE&G’s Summer Relief Plan to Shield Residential Customers from Rising Costs Advances

PSE&G Gears Up to Offer Relief on Soaring Summer Bills

NEWARK, N.J., June 18, 2025 /PRNewswire/ — Public Service Electric and Gas Company (PSE&G) is moving swiftly to cushion New Jersey residents from predicted summer energy price hikes. The utility announced today that the New Jersey Board of Public Utilities (BPU) has greenlit its proposal to provide a temporary credit to all residential customers. This proactive measure aims to ease the sting of higher electricity supply rates, a consequence of PJM’s capacity price auction. This initiative is part of PSE&G’s Summer Relief Initiative, aiming to shield consumers from increased expenses during the hottest months.

While addressing the immediate financial needs of its customer base, PSE&G is also advocating for long-term strategies to address the underlying supply-demand imbalance, underscoring the need for new energy generation capabilities.

Starting in July and running through August of 2025, PSE&G will apply a credit of $30, including taxes, to each residential electric customer’s monthly bill. During this period, PSE&G will bear the full cost of generation paid to suppliers, anticipating that they will collect $10 per month for the months from September 2025 through February 2026. As previously stated, PSE&G will forgo any carrying costs, like interest, on the credit provided to customers.  

Adding to this financial relief, the BPU has also approved PSE&G’s proposal to waive all residential reconnection fees between July 1st and September 30th, 2025.

Additionally, the Summer Moratorium, an extension of the Winter Termination Program, will begin on July 1st, 2025, offering shut-off protections to income-eligible individuals and running through September 30th, 2025.

“While we recognize that utilities are not the cause of these price surges, PSE&G is pleased to collaborate with Governor Murphy, the legislature, and the BPU to devise measures that will mitigate the immediate impact of higher costs,” said Kim Hanemann, president and COO of PSE&G. “While we provide customers with immediate support, we must also focus on sustained solutions to address the region’s power generation supply-demand imbalance. Our state needs a strategic, comprehensive integrated system plan that satisfies future demands. We remain dedicated to working with policymakers on sustainable solutions.”

PSE&G prides itself on its track record of high customer satisfaction, affordability, and reliable service. PSE&G’s combined electric and gas bills are almost equivalent to 2008 levels when adjusted for inflation.

Looking Ahead: The Need for Long-Term Solutions

Beyond immediate customer support, emphasis must be placed on long-term remedies for the state’s power generation supply imbalance.

Over the past few years, PSE&G has highlighted the supply and demand imbalance in the region. It is vital to generate our own energy within the state to bring down costs for both residents and businesses.

We remain committed to working with policymakers on long-term solutions to these considerable rate increases, including forwarding policies that encourage the evolution of new power generation in New Jersey.

Summer Heat: Understanding the Impact on Bills

The energy consumption required to cool your property to 75 degrees can be 125% higher when the temperature is 90 degrees outside, versus when it’s 85 degrees. Customers may find their usages increase, leading to higher energy bills as the summer heat arrives.

Regardless of the price of electricity, customers have an opportunity to understand and manage their energy consumption now. Customers can access valuable energy efficiency information at pseg.com/energyefficiency and bizsave.pseg.com.

Customer Assistance from PSE&G

PSE&G works directly with customers, and with non-profits and community organizations who work with utility customers, to inform them about the energy assistance programs available.

PSE&G provides information about the affordability options that may be available based on income qualification requirements (e.g., the Low Income Home Energy Assistance Program (LIHEAP) or SHARES for customers in temporary financial hardship).

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 payments into 12 equal monthly installments, allowing customers to streamline their monthly spend expectations. Deferred Payment Arrangements give customers the chance to pay a portion of their past-due bills over an agreed-upon period.

Customers can find valuable energy assistance information at pseg.com/saveenergy.

About PSE&G

Public Service Electric & Gas Co. is New Jersey’s oldest and largest gas and electric delivery public utility, as well as one of the nation’s largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 23 consecutive years. For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In addition, in 2024 J.D. Power named PSE&G number one in customer satisfaction with residential electric service and gas service in the east among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company focused on a clean energy future and has been named to the Dow Jones Sustainability Index for North America for 17 consecutive years (www.pseg.com).

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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