UGI to Decrease Natural Gas Rates 13.5% on December 1, 2011
30 Nov 2011
Reading, PA (November 30, 2011) – UGI Utilities, Inc. – Gas Division (UGI) announced today that its purchased gas cost rates will decrease on December 1, 2011 due to lower wholesale natural gas costs. As a result, the average residential heating customer’s bill will decrease approximately 13.5% percent, from $108.39 to $93.75 per month.
With this rate decrease, natural gas costs for UGI customers will be about 27% less than they were three years ago. According to Vicki O. Ebner, Senior Vice President, Customer & Government Relations, “The increase of supplies of natural gas from Marcellus Shale has helped create continued downward price pressure on natural gas. We are pleased to pass this cost savings on to our customers as we approach the winter heating season, especially in the midst of extreme price volatility for other energy sources. Now more than ever, natural gas is an affordable, efficient and reliable American fuel, and the energy source of choice for homes and businesses. A record number of customers converted to natural gas in the UGI service territories this year, primarily from oil.”
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 and efficient energy source. However, we urge customers to continue to take steps to use energy wisely and improve the efficiency of their homes,” Ebner stated.
In addition, UGI 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 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 bills should contact UGI as soon as possible to discuss a payment arrangement.
UGI’s Gas Division is headquartered in Reading, Pennsylvania and serves approximately 340,000 customers in 15 southeastern Pennsylvania counties. Additional information about UGI’s Gas Division is available online at www.ugi.com, on Facebook at www.facebook.com/UGIUtilities and on Twitter at www.twitter.com/UGI_Utilities.