NJ · gas · GR23120925
Closed case·Complete·Authorized
Base-revenue and net customer-rate effects are distinct; the tracker uses the comparable base-revenue request and authorization.
PSE&G requested a $423 million gas base-revenue increase. The Board approved $270.8 million; after Tax Adjustment Credit changes, the order described a lower net distribution-rate increase.
Oct 9, 2024
Not scheduled
Case stage
complete
Filed
Dec 29, 2023
Testimony
Not recorded
Hearings
Not recorded
Briefing
Not recorded
Decision
Oct 9, 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 | $423M Annual utility request | $270.8M Prior authorized observation · Oct 9, 2024 | +$152.2M |
| Rate base | Not available Not captured in current case sources | Not available Authorized value not captured | — |
| Return on equity | 10.4% Total company rate-case request or Commission-authorized outcome · Oct 9, 2024 | 9.6% Total company rate-case request or Commission-authorized outcome · Oct 9, 2024 | +80 bps |
| Common equity ratio | Not available Not captured in current case sources | Not available Authorized value not captured | — |
| 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.
Common equity ratio
authorized · PSE&G electric and gas distribution capitalization. · Oct 9, 2024
55%
Rate base
authorized · Combined PSE&G electric and gas distribution rate base authorized in the 2024 base-rate settlement. · Oct 9, 2024
$17,800M
Return on equity
authorized · PSE&G electric and gas distribution base rates. · Oct 9, 2024
9.6%
2 events · 0 documents · 1 citation
Material filings, hearings, orders, and effective dates.
Dec 29, 2023
Gas base rate petition filed
official commission · completed
Oct 9, 2024
Board approved combined PSE&G settlement
official commission · completed
Docket and evidence documents linked to this proceeding.
No documents are linked to this proceeding.
Field-level excerpts and review metadata supporting material facts.
NJBPU order approving PSE&G 2023 electric and gas base-rate settlement
commission order · Oct 9, 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 | — | $270.8M | |
| Annual revenue change | utility request | party-utility | — | $423M | |
| Return on equity | authorized | party-commission | — | 9.6% | |
| Return on equity | utility request | party-utility | — | 10.4% |