READING, PA, November 26, 2014 — UGI Penn Natural Gas (UGI PNG) announced today that customers’ purchased gas cost rates will decrease on December 1, 2014 due to lower wholesale natural gas costs. As a result, an average residential heating customer’s bill is estimated to decrease approximately 2.6 percent, from $99.92 to $97.33 per month.
“Thanks in part to increasing availability of supplies of Pennsylvania-produced Marcellus and Utica Shale gas, UGI PNG is pleased to be able to reduce purchased gas costs for our customers,” said UGI Utilities Vice President of Rates Paul Szykman. “This cost reduction is an added benefit to customers as we enter the winter heating season.”
“Some 80 percent of our supply is made up of Marcellus Shale natural gas, which helps ensure that UGI natural gas prices remain affordable, relatively stable and an excellent energy value for our customers,” added Mr. Szykman. “In fact, with this estimated December 1 decrease, average natural gas bills will be approximately 38% lower than they were in 2008.”
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.
Natural gas is an extremely clean fuel with significantly lower carbon emissions compared to oil or coal-fired electric generation. UGI provides information to customers promoting the safe use and conservation of energy. Conserving energy is both good for the planet and can help reduce household bills.
Customers with a limited or fixed income are encouraged to call UGI PNG at 1-800-UGI-WARM (844-9276) to determine if they are eligible for one of several energy assistance programs. Finally, any customer who is behind on their gas bill should contact UGI PNG 1-800-276-2722 as soon as possible to discuss a payment arrangement.
UGI Penn Natural Gas is a wholly owned subsidiary of UGI Utilities, Inc. UGI Penn Natural Gas serves more than 178,000 customers in 13 counties throughout northeastern and central Pennsylvania, including customers in and around Scranton, Wilkes-Barre and Williamsport. Additional information about UGI’s Penn Natural Gas is available at www.ugi.com.