NJNG files base rate case seeking $157.6M increase; offers 8.9% winter bill cut

NEW JERSEY RESOURCES CORP

NJNG seeks $157.6M delivery rate increase (12.7% avg customer) with 7.60% return on rate base, 10.10% ROE, 55.5% equity.
Simultaneous BGSS, CIP, and EE filings provide 8.9% bill reduction ($158/year avg residential) for winter, keeping net rates nearly flat.
Request covers ~$950M in system investments since last rate case (2024): pipeline upgrades, Jamesburg Replacement Project, IT modernization, cybersecurity.
Rate case process expected 9-12 months; any increase would take effect after 2026-2027 winter season, likely not before 2027.
NJNG’s gas purchasing and hedging generated $1.6B in cumulative customer savings over incentive program life.

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