December natural gas prices for Columbia Gas of Kentucky customers lowest in over 10 years
Winter heating bills won’t pack the same punch they have in recent years as December natural gas prices for Columbia Gas of Kentucky customers are the lowest since 1998.
Columbia Gas of Kentucky has received approval from the Kentucky Public Service Commission (PSC) for its most recent Gas Cost Adjustment (GCA). Columbia Gas of Kentucky’s gas supply cost is now $4.3688 per Mcf (1,000 cubic feet), a slight increase from the November price of $3.6835 per Mcf, but a 67 percent decrease from December 2008 when prices were at near record-high levels of $13.2687. This price will remain in effect until the next scheduled Gas Cost Adjustment in March 2010.
“It’s not unusual to see natural gas prices rise slightly during the winter heating season as the demand for home heating increases,” said Columbia Gas of Kentucky President Herbert A. Miller, Jr. “These lower market prices are a much needed relief to struggling consumers this winter.”
Columbia Gas of Kentucky typically adjusts its prices quarterly to reflect current market conditions. Natural gas distribution companies are not permitted to earn a profit on their gas commodity costs and Columbia Gas of Kentucky passes the cost along to customers without markup.
A customer’s monthly bill is comprised of two primary components: the gas supply cost and delivery costs. The delivery charges cover the cost of delivering the gas to the customer’s home or business through the company’s pipeline infrastructure, as well as line inspection, repair, 24-hour emergency service, etc. The gas supply cost includes the commodity cost, interstate pipeline charges and storage costs. The gas supply cost charges typically account for approximately 60 percent of a customer’s monthly bill.
Columbia encourages customers to enroll in the Budget Payment Plan. The Budget Payment Plan spreads winter heating costs throughout the year and allows customers to pay the same amount every month. To enroll in the Budget Payment Plan, customers should call 800-432-9345 between 8am and 5pm, Monday through Friday.
Columbia Gas officials also encourage consumers to weatherize their home to help save energy. Energy saving tips are available at our web site at www.columbiagasky.com or at www.energy.ky.gov/dre3/tips/.
Weatherization assistance for low-income families is available in Kentucky. For more information about weatherization, visit http://energy.ky.gov/dre3/tips/assistance.htm or contact your local community action agency.