Residents of Pennsauken will soon enjoy lower electric rates, thanks to a new cost-saving program by the Township.

The new rate of $0.10865 per kilowatt-hour is 13 percent lower than that of the local utility, Public Service Electric & Gas (PSE&G). Total savings for Township residents is projected at $1,000,000 during the program’s 16-month contract period. Pennsauken’s municipal government is not receiving any financial consideration for participation in this program; the cost savings from the lower electric rate solely benefit residents.