Supply costs decreases 48%
LEXINGTON, Ky. (Aug. 27, 2015) — Natural gas paid by Columbia Gas of Kentucky customers fell this week to its lowest level in 20 years. Columbia Gas of Kentucky’s gas supply cost will decrease to $2.7190 per Mcf (1,000 cubic feet)—a 48 percent decrease—effective Aug. 28. The new gas supply cost will remain in effect until the next scheduled Gas Cost Adjustment in December 2015.
“Whether you use natural gas to heat your home or run your business, this historic drop in the price of natural gas is great news,” said Columbia Gas president Herbert A. Miller, Jr.
Columbia Gas typically adjusts its prices quarterly to reflect current market conditions. These quarterly Gas Cost Adjustments are submitted for approval to the Kentucky Public Service Commission (PSC). Natural gas distribution companies do not earn a profit on their gas commodity costs and Columbia Gas 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.
Despite lower natural gas prices, Columbia officials said customers should still 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. The Budget Payment Plan begins in May of each year, but customers can enroll at any time.
Columbia Gas also offers a series of residential energy efficiency programs to help customers save energy, including furnace replacements for eligible low-income customers, free home energy checkups, and rebates on a variety of high-efficiency natural gas heating, water heating and hearth products.
To request a free home energy checkup, customers should call 800-300-8709 or complete the online request form at www.columbiagasky.com/checkup.