Reading, PA (November 30, 2006) – UGI Utilities, Inc. – Gas Division (UGI) announced today that its purchased gas cost rates will decrease on December 1, 2006 due to lower wholesale gas prices. As a result, the average residential heating customer’s bill will decrease by approximately 7 percent from $138.39 to $128.37 per month.
This marks the fifth time this year that UGI has lowered its gas cost rates. As a result, customer bills are approximately15% lower than one year ago, saving the average customer more than $23.00 per month. (See attached rate summary.)
“Wholesale market conditions have allowed us to purchase natural gas at prices that were markedly lower than last year and we are pleased to pass these savings on to our customers,” said Vicki Ebner, vice president of marketing and gas supply.
Ebner explained that a number of factors, including last winter’s mild temperatures and this year’s uneventful hurricane season, have led to an increase in natural gas inventories, which helped reduce prices.
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.
UGI continues to encourage customers to use energy wisely. The company offers a free Budget Billing Plan that is designed to spread payments out evenly each month. Customers with a limited or fixed income should call UGI at 1-800-UGI-WARM (844-9276) to determine if they are eligible for one of several energy assistance programs.Meanwhile, any customer who is behind on their gas bills should contact UGI as soon as possible to discuss a payment arrangement.
UGI’s Gas Division is headquartered in Reading, PA and serves 307,000 customers in 15 Southeastern Pennsylvania counties. Additional information about UGI’s Gas Division is available online at www.ugi.com.
Summary of UGI Utilities, Inc. – Gas Division Rates – 2007
Date Average Residential Heating Customer’s Monthly Bill