PSE&G Proactively Implements Summer Relief Initiative to Protect Residential Electric Customers from Higher Costs

Core Viewpoint - PSE&G is implementing a Summer Relief Initiative to assist residential electric customers in New Jersey amid a significant electric supply price increase resulting from PJM's capacity price auction, while seeking approval from the New Jersey Board of Public Utilities (BPU) for relief measures [1][2][3] Group 1: Summer Relief Initiative - The Summer Relief Initiative includes a Summer Moratorium and suspension of reconnection fees to protect qualified residential customers from disconnection during the summer months [1][9] - PSE&G filed for approval of this initiative on May 7, with additional support for residential customers added on May 15, pending BPU review [2] - The company will defer the effects of the June 1 supply increase for residential customers over the summer months, while still paying electricity suppliers the full cost of generation [1][3] Group 2: Customer Support and Assistance - PSE&G emphasizes the importance of customer support, encouraging those struggling to pay their bills to reach out for assistance [3][8] - The company provides various energy assistance options, including the Low Income Home Energy Assistance Program (LIHEAP) and SHARES for customers facing temporary financial crises [10] - Additional bill payment tools are available, such as the Equal Payment Plan, which divides annual energy costs into 12 equal monthly payments, and Deferred Payment Arrangements for past-due balances [11] Group 3: Long-term Solutions and Industry Context - PSE&G has been warning about the supply and demand imbalance in the region for several years and is committed to working with policymakers on long-term solutions to address significant rate increases [7] - The company highlights that the 17% rise in electric rates is not caused by PSE&G but acknowledges the need for more power generation in New Jersey to meet forecasted energy supply-demand imbalances [3][7] - PSE&G's electric and gas bills are nearly equivalent to their 2008 levels when adjusted for inflation, indicating a focus on maintaining affordability [4]