UGI CPG to Decrease Natural Gas Rates 11.4% on March 1, 2009
27 Feb 2009
Reading, PA (February 27, 2009) – UGI Central Penn Gas (UGI CPG) announced today that its purchased gas cost rates will decrease on March 1, 2009 due to lower wholesale natural gas costs. As a result, the average residential heating customer’s bill will decrease approximately 11.4 percent, from $114.72 to $101.64 per month.
The rate decrease is a direct result of UGI CPG’s lower actual and projected prices for wholesale natural gas. According to Peter Terranova, vice president marketing, supply & rates, “Wholesale natural gas prices have continued to decline since peaking last summer. We are pleased to be able to pass on lower wholesale prices to our customers for the second time in three months. During these difficult economic times, natural gas remains a cost-effective fuel for homes and businesses.”
By law, utilities cannot earn a profit on the natural gas commodity portion of a customer’s bill. They are required to pass the cost of the natural gas they purchase directly through to customers without any markup. Purchased gas cost rates may be adjusted quarterly. UGI CPG customer bills most recently decreased 6% on December 1, 2008.
While natural gas remains an excellent value, Terranova stated that “conserving energy is both environmentally responsible and reduces household bills.” UGI encourages customers to continue to take steps to use energy wisely and improve the efficiency of their homes.
In addition, UGI CPG offers a free Budget Billing Plan that is designed to spread payments out evenly each month. Customers with a limited or fixed income are encouraged to call UGI CPG at 1-800-652-0550 to determine if they are eligible for one of several energy assistance programs. Finally, any customer who is behind on their gas bills should contact UGI CPG as soon as possible to discuss a payment arrangement.
UGI Central Penn Gas, Inc. is a wholly owned subsidiary of UGI Utilities, Inc. UGI Central Penn Gas serves approximately 76,000 customers in 35 counties in eastern and central Pennsylvania, including customers in and around Bedford, Clearfield, Coudersport, Hamburg, Huntington, Lewistown, Lock Haven, Fryburg, Lehighton, Oxford, Pittston, Pottsville, Port Allegany, Shamokin, Shippensburg, Stroudsburg, Troy, Waynesboro and Wellsboro. Additional information about UGI Central Penn Gas is available at www.ugi.com.