Assembly Republican members Dave Rible and Mary Pat Angelini today said New Jersey Natural Gas' (NJNG) plan for a 17 percent rate reduction for residential customers is welcome news for the area's recession battered residents.

"This rate cut is welcome relief for our local residents who have been fiscally hammered by the state’s economic crisis," stated Rible, R-Monmouth. "With many of our middle class families living paycheck to paycheck this price cut is certain to help ease their financial strain come winter when they need to heat their homes.

"I'd like to commend New Jersey Natural Gas officials for once again taking the initiative and providing rate breaks for their customers when the opportunity presents itself.," added Rible, who noted that the company increased rates 8.9 percent last year, but returned a portion of that hike to customers through credits in January, February and March for an average of $110 per customer.

The proposed rate reduction, reported today in the Asbury Park Press, is the result of reduced demand for natural gas fueled by the global recession. The cut, subject to the approval of the state Board of Public Utilities, would take effect October 1. For an average customer using 100 therms a month, it would lower their rate from $170.05 to $140.17. NJNG serves more than 486,000 customers in Monmouth, Ocean, Middlesex and Morris counties.

"In light of all the distressing news concerning tax hikes and the loss of property tax relief coming from the governor's office in Trenton and rising gas prices at the pump for the summer season, NJNG’s rate cut announcement couldn't come at a better time for our struggling middle class families and senior citizen communities," said Angelini, R-Monmouth. "Kudos to New Jersey Natural Gas officials for stepping up to the plate and providing this much needed relief."

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