Louisville, Ky. – With cooler temperatures making more frequent appearances across the region, there’s good news for Louisville Gas and Electric customers. If approved by the Kentucky Public Service Commission, the utility’s residential natural gas customers can expect to see a decrease of nearly 15 percent on an average heating bill. For LG&E residential gas customers using an average of 6,000 cubic feet per month, the drop equates to about $10 a month. The lower heating costs are the result of a decrease in the price of wholesale natural gas.
Like other utilities and gas consumers across the nation, LG&E purchases natural gas on the open market. The utility continuously works to achieve the lowest possible cost by using a variety of suppliers and by purchasing natural gas year-round. This enables the company to store natural gas in its underground storage fields during the summer months, when natural gas prices are typically lower, then purchase additional fuel during the winter months to supplement what’s already been stored and meet customers’ needs.
The wholesale natural gas cost is passed on to customers dollar-for-dollar, meaning they pay the same as the wholesale price. Because the cost of wholesale natural gas fluctuates, LG&E files a quarterly natural gas cost adjustment with the KPSC — to recover the utility’s cost to purchase the gas it sells. If approved, the decrease will be in effect from Nov. 1, 2015, to Jan. 31, 2016.
Preparing for the colder season
News of the lower costs comes as National Energy Awareness Month begins. Honored throughout October, the month aims to educate consumers on various energy issues including ways to better manage energy use and energy bills.
To prepare for the colder seasons ahead, LG&E offers the following tips for consumers.
- Have your HVAC system professionally inspected to ensure it’s running efficiently.
- Remember to change your furnace filter every 30 days or according to the manufacturer’s instructions.
- Seal leaks around the house with caulk, spray foam and weather-stripping to improve comfort while reducing overall energy costs.
- Use a programmable thermostat to adjust indoor air temperature.
- Use sunlight to your advantage by opening blinds and drapes, allowing its rays to help naturally heat your home.
Visit the LG&E website for additional energy-saving tips and programs.