UGI CPG to Decrease Natural Gas Rates 6% on December 1, 2008
24 Nov 2008
Reading, PA (November 24, 2008) – UGI Central Penn Gas (UGI CPG) announced today that its purchased gas cost rates will decrease on December 1, 2008 due to lower wholesale natural gas costs. As a result, the average residential heating customer’s bill will decrease approximately 6 percent, from $133.02 to $124.85 per month.
The rate decrease is a direct result of UGI CPG’s lower actual and projected prices for natural gas. According to Peter Terranova, Vice President Marketing, Supply & Rates, “We are pleased by the drop in wholesale natural gas prices and our ability to pass these savings on to our customers prior to the winter heating season. In these times of extreme price volatility for oil, and the pending large increases in electricity prices, natural gas, which is an efficient and reliable American fuel, remains the energy of choice 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.
While natural gas is an extremely clean fuel, conserving energy is both environmentally responsible and reduces household bills. “Natural gas remains an excellent value. However, we urge customers to continue to take steps to use energy wisely and improve the efficiency of their homes,” Terranova stated.
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., headquartered in Reading, Pennsylvania, 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. For more information, visit www.ugi.com.