UGI Utilities Projects Natural Gas Prices to Remain Stable Through Rest of 2020
15 May 2020
UGI Utilities, Inc. – Gas Division (UGI) announced that its purchased gas cost rates are projected to remain stable through the remainder of 2020, with no change on June 1 and a small decrease expected on December 1.
UGI will submit its December 1 natural gas cost rate projection in an annual filing with the Pennsylvania Public Utility Commission (PUC). At this time, UGI projects a decrease of 0.2 percent for residential, commercial and industrial customers.
“We are pleased to maintain economical, stable energy prices during these uncertain times,” Chris Brown, UGI Vice President and General Manager of Rates and Supply, said. “Natural gas remains a clean, reliable, and very cost-effective energy choice on which our customers can rely.”
UGI is required to file its gas cost rates annually for review with the PUC and may adjust these rates quarterly to reflect changes in wholesale natural gas prices. By law, utilities cannot earn a profit on the natural gas commodity portion of a customer’s bill. Utilities are required to pass the cost of the natural gas they purchase directly through to customers without any markup.
If UGI’s proposed projected rates for December 1 are approved, the bill for a typical residential heating customer who uses 73.5 hundred cubic feet (ccf) of natural gas per month will decrease from $77.30 to $77.16.
The bill for a typical commercial retail customer using 28.7 thousand cubic feet (Mcf) per month will decrease from $247.26 per month to $246.73 on December 1 (and from $237.41 to $236.89 for customers in the former North rate district).
The bill for a typical industrial retail customer using 92.95 Mcf per month will decrease from $750.60 per month to $748.91 on December 1 (and from $718.40 to $716.72 for customers in the former North rate district).
Customers may call UGI at 1-800-276-2722 to receive further information on the proposed rates or to find out what actions they may take. UGI encourages customers to use energy wisely and make efficiency improvements in their homes. All customers are encouraged to sign up for UGI’s free budget billing program, which spreads bills out over a 12-month period. Customers with a limited or fixed income should call UGI at 1-800-UGI-WARM to determine if they are eligible for one of several energy assistance programs.
UGI Utilities, Inc. is a natural gas and electric utility headquartered in Denver, PA. UGI serves more than 700,000 customers in 45 Pennsylvania counties and one county in Maryland. Additional information about UGI is available at www.ugi.com