Uniondale, NY - December 31, 2015 - PSEG Long Island today released the Power Supply Charge for January. Effective tomorrow, the Power Supply Charge will be 5.2720 cents per kilowatt hour (kWh).
The Power Supply Charge for January is 3.3319 cents per kWh lower than December’s Power Supply Charge. For the average PSEG Long Island customer with a household consumption of 775 kWh a month, the Power Supply Charge portion of the bill will be $25.82 less in January. The reduction is primarily attributable to two factors: (1) the unseasonably warm winter weather which has resulted in reduced demand for natural gas and thus lower projected prices in January for both the natural gas used to generate electricity and purchased power; and, (2) the return to customers in January of a carryover credit from November 2015 which was also due to actual gas costs in November being less than originally projected for November.
The monthly Power Supply Charge varies according to what it actually costs to produce the electricity used by PSEG Long Island’s customers and is impacted by market prices and weather, among other factors. Customers are only billed for what they use. The monthly Power Supply Charge portion of customers’ bills varies according to customers’ usage. On an annualized basis, though, the Power Supply Charge for PSEG Long Island’s customers over the last two years has been the least volatile among the major utilities in New York State.
The largest factor in determining a customer’s bill is how much electricity is used. The following tips will help customers better manage their usage:
- Install a programmable thermostat.
- Set refrigerators and freezers to the most efficient temperatures. Recommended temperatures are 35-38° F for the fresh food compartment, and 0° F for freezers.
- Seal holes and cracks around doors and windows. Eliminate air leaks around window air conditioners with foam insulation or weather-stripping.
- Turn off power sources. TVs, computers and other electronic devices draw power when they are in standby mode or turned off but still plugged in. Plug electronics into power strips and turn off the power switch when the items are not in use.
- Use timers and motion detectors on indoor and outdoor lighting.
- Replace old appliances with new energy efficient Energy Star® appliances.
PSEG Long Island customers are eligible to participate in programs to use less energy, which helps lower costs. Customers can take a quick online survey to see how much they can save by improving the energy efficiency of their home. For more information on efficiency programs and energy saving tips, visit PSEG Long Island.
Customers who want to ease fluctuations in monthly bill payment amounts may want to consider PSEG Long Island’s Balanced Billing program. The total annual cost for electricity will remain the same, but customers have the convenience of a more predictable monthly bill amount.
PSEG Long Island operates the Long Island Power Authority’s transmission and distribution system under a 12-year contract. PSEG Long Island is a subsidiary of Public Service Enterprise Group Incorporated (NYSE:PEG), a publicly traded diversified energy company with annual revenues of approximately $11 billion.