PSEG's Summer Relief Initiative Offers Financial Aid for Residential Customers Facing Increased Costs

PSEG's Summer Relief Initiative: A Helping Hand for New Jersey Residents

In an effort to alleviate the financial burden from soaring electric costs this summer, Public Service Electric and Gas Company (PSEG) has announced a robust Summer Relief Initiative. This proactive measure comes after the New Jersey Board of Public Utilities (BPU) approved the utility's proposal aimed at residential customers struggling with higher electricity expenses.

A Temporary Credit to Ease the Burden

Commencing July 2025, PSEG will implement a temporary credit of $30 per month, including taxes, for all residential electric customers over the peak summer months of July and August. This initiative has been designed to counteract the dramatic surge in electric supply prices linked to the recent PJM capacity price auction.

In light of the ongoing economic challenges, this strategy not only seeks to mitigate immediate financial impacts but also maintains PSEG's commitment to ensuring affordability for its customers. By absorbing the costs associated with electricity generation during this phase, PSEG will enable customers to feel less pressure on their monthly budgets. However, it is essential to note that a recovery charge of $10 will be applied to residential bills from September 2025 to February 2026, helping PSEG to recover the costs while forgoing any interest charges related to this credit.

Waiving of Reconnection Fees

Additionally, PSEG has taken significant steps to enhance its customer support by waiving all residential reconnection fees during the warm months. This waiver will be effective from July 1 to September 30, 2025, as part of its Summer Moratorium, which aims to protect vulnerable households from utility shut-offs during the summer heat.

Long-term Solutions for Power Supply Imbalance

While immediate relief is vital, PSEG recognizes the importance of tackling the underlying factors contributing to the supply-demand imbalance in the state. As such, PSEG continues to advocate for long-term solutions in collaboration with the state government and policymakers. This involves a strategic approach to energy generation, focusing on enhancing in-state production to stabilize and reduce energy costs for New Jersey residents moving forward.

PSEG's president and COO, Kim Hanemann, emphasized the utility's readiness to collaborate on these essential developments while addressing the urgent financial needs of constituents. "Our focus is not solely on short-term relief but on ensuring that we are equipped to meet future energy demands sustainably and affordably," Hanemann stated.

Understanding the Impact of Increased Summer Electricity Use

The summer months often lead to increased energy consumption, especially with the necessity for air conditioning in sweltering heat. Interestingly, the energy required to maintain a comfortable indoor temperature increases significantly with external temperature rises. When temperatures reach 90 degrees Fahrenheit, cooling costs can surge by 125% compared to milder settings.

In response to these trends, PSEG encourages customers to explore energy efficiency resources available at their website. These can assist families in understanding their energy usages, such as taking advantage of energy-saving tools.

Supporting Customers with Energy Assistance Programs

Besides offering temporary credits, PSEG also provides various energy assistance options to help customers better manage their energy expenses. Notably, they offer programs like the Low Income Home Energy Assistance Program (LIHEAP) and utility bill management tools, including the Equal Payment Plan. These initiatives are designed to aid customers in budgeting their energy costs across the year.

PSEG, which holds a long-standing reputation for reliable service and customer satisfaction, advocates for a holistic approach to energy management. Recognized for its accomplishments, PSEG has maintained high standards in service and reliability over the years.

As New Jersey’s largest utility, and with a legacy of over two decades of recognition for service reliability, PSEG aims not just to provide immediate relief this summer but also to pave the path for a more efficient energy future for every resident in New Jersey.

For further details on energy assistance and efficiency programs, customers can visit PSEG's website.