Notice of Public Hearing from NJ Natural Gas

To All:

New Jersey Natural Gas Company (the “Company” or “NJNG”) hereby advises you that on January 31, 2024, the Company filed a request with the New Jersey Board of Public Utilities requesting an increase in the Company’s base rate charges for natural gas service (“Base Rate Petition”).  NJNG’s Base Rate Petition states that the requested rate increase is necessary to support the Company’s ability to continue to operate and maintain its natural gas distribution system in a safe, adequate, and proper manner.  In the Base Rate Petition, the Company requested a natural gas revenue increase of $222.60 million, including a change in the Company’s overall rate of return to 7.57 percent, which also includes a proposed return on common equity of 10.42 percent.  The impact of this request on the average residential heating customer using 100 therms per month is a $34.85 increase in the customer’s monthly bill, or approximately 23.4 percent. 

Included in the Base Rate Petition is a request pursuant to N.J.S.A. 48:2-18 to change certain depreciation rates based upon a Depreciation Study.  The Company proposed that the requested changes in its depreciation rates be approved for implementation simultaneously with the effective date of the proposed new natural gas rates. 

A complete copy of the Company’s filing is available for review on NJNG’s website at www.njng.com.

Please be further advised that the Company hereby serves upon you the attached Notice of Public Hearings in the above referenced matter.  The virtual public hearings are scheduled for June 27, 2024 at 4:30 P.M. and 5:30 P.M. with the following Log-In instructions.

Location: Zoom Virtual Webinar

Join by holding down control button and clicking on below link: https://us06web.zoom.us/j/2458136397?pwd=VUJpK1V0aDYxZDllZUIwaElOWDFRZz09

Meeting ID: 245 813 6397

Dial-In Phone Number: 1-646-876-9923

Access Code: 819208