PSEG Settles Rate Cases

The Newark Star Ledger:

The state yesterday reached a tentative agreement with Public Service Electric & Gas to settle outstanding utility rate cases, allowing the state's biggest gas and electric utility to collect $87 million more in revenue from its customers.

The proposed settlements would lead to a tiny increase in electric bills for the utility's 2.1 million customers, but result in a modest decrease in monthly gas bills for about 1.7 million customers because the price of natural gas has dropped so dramatically in re cent months.