Price of Natural Gas (PSEG) (2014, credit, heating bill)

[bbnetworking]

Just got my heating bill for last month, looks like it went from $0.19 per therms to $0.50

January 2014 - BGSS Commodity 383.562 therms @ $0.50046668 = $191.96

December 2013 - BGSS Commodity 275.224 therms @ $0.19398744 = $53.39

Have you check yours?

[bradykp]

So depending on your bill cycle, you had 1 month or 2 months with the $0.19 rate (not a full two months though, only partial of each bill). The rate was explained to me as being a way that PSEG credits it's customers for essentially overcharging the rest of the year. I don't remember exactly, but they either aren't allowed to profit off of supply, or the amount they can profit can't exceed a certain amount...so that's why they had the credit at the end of the year. now, your recent bill reflects the normal rate.

be glad you're not with a TPS .... they jacked up rates really big and blamed the polar vortex. wiped out every penny i've saved so far, and put me in the hole on natural gas (i didn't get that nice 0.19 rate because i switched 8 months ago - yay).

[ieee488]

Originally Posted by bbnetworking

Just got my heating bill for last month, looks like it went from $0.19 per therms to $0.50

January 2014 - BGSS Commodity 383.562 therms @ $0.50046668 = $191.96

December 2013 - BGSS Commodity 275.224 therms @ $0.19398744 = $53.39

Have you check yours?

Yep. Mine had the same jump, except it was @ $0.45584119 for January 2014.

I also have no clue why the distribution charge changed from December 2013 to January 2014.
I have a First Distribution charge and a Next Distribution charge. Shouldn't it stay the same?

[Retriever]

I guess that the OP doesn't read the inserts that come with his/her PSEG bill.
To quote from the insert that came with the December bill:

"On October 12, PSEG announced that it would provide a two month bill credit for its residential gas customers that would cut the typical monthly bill by about 33% in both November & December. The bill credit of 35 cents per therm reduced the current supply rate of approximately 54 cents to 19 cents per therm for usage in November & December."

Translation=You got a price break for two months, and apparently you weren't aware of it.

If you go back & check your October bill, it will likely reflect a charge of 54 cents per therm (or something very close to that figure), and now that the two month discount period has ended, you are back to being charged the "regular" rate of 54 cents per therm.

[ieee488]

Originally Posted by Retriever

I guess that the OP doesn't read the inserts that come with his/her PSEG bill.
To quote from the insert that came with the December bill:

"On October 12, PSEG announced that it would provide a two month bill credit for its residential gas customers that would cut the typical monthly bill by about 33% in both November & December. The bill credit of 35 cents per therm reduced the current supply rate of approximately 54 cents to 19 cents per therm for usage in November & December."

Translation=You got a price break for two months, and apparently you weren't aware of it.

If you go back & check your October bill, it will likely reflect a charge of 54 cents per therm (or something very close to that figure), and now that the two month discount period has ended, you are back to being charged the "regular" rate of 54 cents per therm.

Most people, including me, don't read the inserts.

[bbnetworking]

Originally Posted by Retriever

I guess that the OP doesn't read the inserts that come with his/her PSEG bill.
To quote from the insert that came with the December bill:

"On October 12, PSEG announced that it would provide a two month bill credit for its residential gas customers that would cut the typical monthly bill by about 33% in both November & December. The bill credit of 35 cents per therm reduced the current supply rate of approximately 54 cents to 19 cents per therm for usage in November & December."

Translation=You got a price break for two months, and apparently you weren't aware of it.

If you go back & check your October bill, it will likely reflect a charge of 54 cents per therm (or something very close to that figure), and now that the two month discount period has ended, you are back to being charged the "regular" rate of 54 cents per therm.

Thanks for that, no wonder my bills for Nov and Dec were so low, and jumped in Jan.

[Retriever]

Originally Posted by ieee488

Most people, including me, don't read the inserts.

Isn't this a perfect example of why you should?

In my case, after I read it, I saved it--simply because I knew that when my rate jumped again in January, I would probably not recall the exact details of the rate cut.
By reading it, and saving it for future reference (inside my checkbook), I wasn't surprised when the rate increased.

[NJGOAT]

Originally Posted by bradykp

So depending on your bill cycle, you had 1 month or 2 months with the $0.19 rate (not a full two months though, only partial of each bill). The rate was explained to me as being a way that PSEG credits it's customers for essentially overcharging the rest of the year. I don't remember exactly, but they either aren't allowed to profit off of supply, or the amount they can profit can't exceed a certain amount...so that's why they had the credit at the end of the year. now, your recent bill reflects the normal rate.

be glad you're not with a TPS .... they jacked up rates really big and blamed the polar vortex. wiped out every penny i've saved so far, and put me in the hole on natural gas (i didn't get that nice 0.19 rate because i switched 8 months ago - yay).

Bingo. It's illegal in NJ for a chartered utility to make money off of the supply side of the equation. At the end of the year they will balance the books by offering either a cash rebate or a reduced rate. I have South Jersey Gas and last year we got a credit on our bill based on how many therms we had bought at the higher rate. You don't always see the discount as it requires the utility to have purchased their supplies at a lower rate then what they estimated and charged you for.

I went with a TPS too this past year and am in the same boat. To be honest I NEVER saved much money with them on gas or electric other than the teaser rate on the gas. I'm pulling the plug on the TPS and going back to having my regular utility company as my supplier.

[sirk98]

sorry... 'TPS'? Is that like an ESCO?

[ieee488]

Originally Posted by Retriever

Isn't this a perfect example of why you should?

In my case, after I read it, I saved it--simply because I knew that when my rate jumped again in January, I would probably not recall the exact details of the rate cut.
By reading it, and saving it for future reference (inside my checkbook), I wasn't surprised when the rate increased.

I suppose. Just not that important I suppose.
I feel that I am captive to them, so it doesn't matter what I do.
They'll do whatever they do, and I have no control.