Uniondale, NY - February 27, 2015 - PSEG Long Island today released the Power Supply Charge for March. Effective March 1, 2015, the Power Supply Charge will be 9.18 cents per kilowatt hour (kWh), approximately 1.19 cents lower than the February 2015 charge. For the average PSEG Long Island customer, which is a household that consumes 775 kWh a month, the Power Supply Charge portion of the bill will decrease $9.23.
“The March 2015 Power Supply Charge has decreased due, in large part, to projected lower fuel prices for the month of March as compared to actual February gas prices,” said Paul Napoli, PSEG Long Island vice president of Power Markets. “The Power Supply Charge remains a pure pass-through of fuel and purchased power costs and is included in the monthly bill customers receive from PSEG Long Island.”
The monthly Power Supply Charge varies according to what it actually costs to purchase the electricity used by PSEG Long Island’s customers and is impacted by market prices and weather, among other factors. While there are months when the Power Supply Charge increases and other times when it decreases, on an annualized basis, 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.
PSEG Long Island encourages customers to be more energy efficient. The largest factor in determining a customer’s bill is how much electric is used. All PSEG Long Island customers are eligible to participate in programs to use less energy, which will help 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 at www.psegliny.com/savemoney.
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 bill amount that would be due each month. The average monthly amount is based on the customer’s past energy use. Participation in the program is free and available to all customers.