Philadelphia Gas Works (PGW) announces natural gas costs for next quarter
Average PGW residential heating customers will pay about $7.64 less per month for the next 3 months than this time last year
Philadelphia Gas Works (PGW) today announced that this quarter's natural gas rate will increase for residential, commercial, industrial and municipal customers. The rate will be adjusted for the next three months from its current $1.41 per hundred cubic feet (Ccf) to $1.46 per Ccf for residential customers. The new rate reflects what PGW pays for the gas.
On an annualized basis, the average residential customer using 880 Ccf of natural gas, will pay an additional $3.93 per month, which is still $3.33 per month less than 12 months ago.
"Even though the market price has increased it is still at near historic lows," said Craig E. White, PGW President and Chief Executive Officer. "At PGW we are committed to helping customers save money on energy costs. We recommend customers visit www.pgwenergysense.com where they can find valuable cost cutting rebates and incentives on high efficiency natural gas equipment to conserve energy and contribute to a cleaner environment while saving money."
PGW reviews its gas rate quarterly and determines, based on market conditions, whether it should change. The new rate, beginning December 1, 2012, will stay in effect through February 28, 2013.
PGW's residential natural gas rates are made up of two main components: a supply charge and delivery charge:
The supply charge is the part of the bill that reflects the amount of gas used by the customer. This charge is what PGW pays for the gas and is passed on to the customer without markup.
The delivery charge includes the cost of delivering natural gas to the customer's residence, distribution system maintenance and customer billing costs, as well as weather adjustments.
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