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New Jersey Natural Gas

NJNG BILL CREDIT EXTENDED THROUGH APRIL

03/15/2006 - For Immediate Release

WALL, NJ – After closely monitoring the natural gas market’s impact on purchased gas costs since implementing a temporary Basic Gas Supply Service (BGSS) bill credit in February, New Jersey Natural Gas (NJNG) announced today it would extend customers’ savings through April. The bill credit, originally announced in late January, brought immediate relief to customers during the winter heating months when bills typically are the highest.

“Through constant tracking of the natural gas market, we determined the credit could be extended to provide additional relief for our customers,” said Laurence M. Downes, chairman and CEO of NJNG. “This is just another one of the many ways we have tried to help our customers manage costs in this higher price environment.”

Residential and small commercial customers will continue to receive a credit of approximately 19 cents per therm based on usage through April 30, 2006. A typical residential customer using 103 therms during this period will see savings of approximately $19. This is in addition to the bill credit of approximately $61 customers received for the months of February and March.

Winter weather has continued to be warmer-than-normal, with temperatures reaching over 70 degrees in our area last week. With lower demands for natural gas nationally, the cost of wholesale natural gas has fallen significantly from the record prices experienced last fall. The lower wholesale prices enable NJNG to extend this savings to customers.

The natural gas commodity market, however, remains volatile and the company will continue to monitor the market on an ongoing basis to assess whether any additional pricing changes may be appropriate at a later date. NJNG will also address the BGSS price in its annual filing with the New Jersey Board of Public Utilities on June 1.

New Jersey Natural Gas (NJNG) is the principal subsidiary of New Jersey Resources (NYSE: NJR), a Fortune 1000 company and a member of the Forbes Platinum 400. NJNG is one of the fastest-growing local distribution companies in the United States, serving more than 462,000 customers in New Jersey’s Monmouth, Ocean, Middlesex and Morris counties. This service area’s demographics and quality of life contribute greatly to NJNG’s growth. NJNG’s progress is a tribute to the dedicated employees who have shared their expertise and focus on quality through more than 50 years of serving customers and the community to make the company a leader in the competitive energy marketplace. For more information, visit NJNG’s Web site at njliving.com.

Contact:

Michael Kinney, Media
732-938-1031

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