Residential natural gas customers of National Fuel Gas will see a 1.5 percent increase in their bills effective Nov. 1.
The average customer using approximately 100,000 cubic feet of gas a year will see their bill increase from $1,004.25 to $1,019.60, according to National Fuel.
However, natural gas prices remain nearly 40 percent lower than they were at this time last year, and another adjustment is not allowable until February.
The November increase is in the gas supply charge and represents the marketplace price of the natural gas customer’s use, according to a news release issued by National Fuel. These costs are, by law, passed on dollar for dollar, according to a news release issued by the company.
“This adjustment is necessary to more accurately reflect the price of natural gas the company purchases for its customers,” Assistant Director of Corporate Communications Sandra James was quoted as saying in a news release issued by the company. “The amount is directly related to the actual market price of natural gas during the past three months as well as the projected price of gas that the company will be purchasing for its customers from now through July 2010. Our next opportunity to adjust gas supply charges is Feb. 1, 2010.” Gas costs are adjusted on a quarterly basis.
“Despite this moderate increase in gas costs customers should see winter bills that are substantially lower than last year,” James said. “Rates are nearly 40 percent lower than at this time last year. Assuming a normal winter, customers should experience significantly lower bills.”
National Fuel Gas is an integrated energy company with four major segments. Its utility segment, National Fuel Gas Distribution Corp., serves approximately 214,000 customers in 14 counties in northwestern Pennsylvania and approximately 500,000 customers in western New York.