NJ · gas · GR24010071
Closed case·Complete·Authorized
The final award preserved substantial recovery while remaining below the initial request.
New Jersey Natural Gas initially requested approximately $222.60 million in additional annual revenue. The Board approved a $157 million settlement.
Nov 21, 2024
Not scheduled
Case stage
complete
Filed
Jan 31, 2024
Testimony
Not recorded
Hearings
Not recorded
Briefing
Not recorded
Decision
Nov 21, 2024
Rates effective
Not recorded
State rules
This docket is a full base-rate review. Selected charges can change on separate schedules without reopening every issue in this case.
Full base-rate review
Case-specific; program deadlines can apply
New Jersey does not use one recurring base-case interval for every utility. Board-approved infrastructure programs can require the participating utility to file its next base-rate case within five years or sooner.
Rate period: Normally established in the utility's base-rate filing; infrastructure-program recoveries remain provisional until prudence is reviewed in the next base case.
Governing rule ↗Between full reviews
Infrastructure Investment Program
Annual or semiannual recovery
A Board-approved IIP permits accelerated recovery for qualifying in-service infrastructure through a separate tariff clause. Rates are provisional and the utility must return for a base case no later than five years after program approval.
Governing source ↗Conservation Incentive Program
Periodic true-up
An approved CIP adjusts gas revenues for usage changes associated with conservation and weather, separating part of utility recovery from sales volume. Its terms are utility- and order-specific.
Governing source ↗Commission decision
Utility request and Commission-authorized outcome.
| Metric | Utility request | Authorized outcome | Like-for-like difference |
|---|---|---|---|
| Annual revenue increase | $222.6M Annual utility request | $157M Prior authorized observation · Nov 21, 2024 | +$65.6M |
| Rate base | Not available Not captured in current case sources | $3,245.02M Prior authorized observation · Nov 21, 2024 | — |
| Return on equity | 10.42% Prior authorized observation · Jan 31, 2024 | 9.6% Prior authorized observation · Nov 21, 2024 | +82 bps |
| Common equity ratio | Not available Not captured in current case sources | 54% Prior authorized observation · Nov 21, 2024 | — |
| Residential bill impact | Not available Not captured in current case sources | Not available Authorized value not captured | — |
Prior authorizations, mechanism values, actuals, and company projections are shown separately because they are not default like-for-like case comparisons.
Annual revenue change
authorized · Prior authorized observation · Nov 17, 2021
$79M
2 events · 1 document · 1 citation
Material filings, hearings, orders, and effective dates.
Jan 31, 2024
Base rate petition filed
official commission · completed
Nov 21, 2024
Board approved settlement
official commission · completed
Docket and evidence documents linked to this proceeding.
NJBPU order approving New Jersey Natural Gas 2024 base-rate settlement
evidence · primary · Nov 21, 2024
Field-level excerpts and review metadata supporting material facts.
NJBPU order approving New Jersey Natural Gas 2024 base-rate settlement
commission order · Nov 21, 2024
Stage-preserving economics and party positions as published in the canonical record.
| Metric | Stage | Party | Period | Value | Evidence |
|---|---|---|---|---|---|
| Annual revenue change | authorized | party-commission | — | $157M | |
| Annual revenue change | utility request | party-utility | — | $222.6M | |
| Common equity ratio | authorized | party-commission | — | 54% | |
| Overall rate of return | authorized | party-commission | — | 7.08% | |
| Rate base | authorized | party-commission | — | $3,245.02M | |
| Return on equity | authorized | party-commission | — | 9.6% | |
| Return on equity | utility request | party-utility | — | 10.42% |