Mercer County natural gas rates drop 5.6 percent - WFMJ.com News weather sports for Youngstown-Warren Ohio

Mercer County natural gas rates drop 5.6 percent

Posted: Updated:
ERIE, Pa. -

Pennsylvanians who are customers of National Fuel Gas will see typical monthly bills drop from $81 to $77 dollars beginning today.

The company has announced that its annual adjustment to Gas Supply Charges will be a 5.66 percent decrease for customers in Mercer and 13 other counties in northwestern Pennsylvania.

The decrease also brings the residential Price to Compare to $.56316 per ccf. Ccf, or centum cubic-feet, denotes100 cubic feet of natural gas, which is the standard reference point used by customers shopping for an alternate gas supplier.

“This decrease reflects National Fuel’s ability to purchase lower cost gas supplies, the majority of which comes from northeast production,” said Sandra James, Director of Corporate Communications. “By law, National Fuel cannot make a profit on the natural gas sold to our customers. What we pay for our gas supply is what we must pass along to our customers, dollar for dollar.”

National Fuel projects annual Gas Supply Charges each year on August 1 and can then update those charges through quarterly reconciliation of actual costs against projections. Any necessary updates can be made on November 1, February 1 and May 1.

National Fuel is required by law to pass any increase or decrease in Gas Supply Charges on to customers with no mark-up or profit. The Gas Supply Charge also includes all the charges the Company must pay to transport and store gas for its customers. As a result, National Fuel Gas says the Gas Supply Charges on a customer’s bill will never exactly match the spot market price of gas, which reflects only the current daily price of the commodity.

Delivery Service Charges, or the cost of delivering natural gas to customers, represent the Company’s cost of doing business. National Fuel says that its Delivery Service Charges have remained the same for the Company’s Pennsylvania customers since January 2007.

Delivery Service Charges are regulated by and ultimately determined by the Pennsylvania Public Utility Commission.

National Fuel serves approximately 213,000 customers.

 

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