The Intelligencer

UGI Utilities’ gas division, which supplies natural gas to customers in several Upper Bucks County municipalities, will reduce its natural gas rates by 16 percent starting Dec. 1.

According to the company, the average residential heating customer’s bill will decrease from $151.47 to $127.59 a month once the change goes into effect.

UGI decreased its purchased gas cost rate in light of falling wholesale natural gas costs. The purchased gas cost portion of the bill, which covers only the cost of buying gas, can be adjusted quarterly.

“We are pleased by the drop in wholesale natural gas prices and our ability to pass these savings on to our customers prior to the winter heating season,” said Peter Terranova, vice president for marketing, supply and rates.

UGI’s gas division is headquartered in Reading. It serves about 320,000 customers in 15 counties, including small portions of Upper Bucks County and western Montgomery County.

SOURCE

Posted on Wednesday, November 26th, 2008 at 3:51 pm and is filed under natural gas.
Tags: gas division, Montgomery County, natural gas, natural gas costs, natural gas rates, Peter Terranova, purchased gas cost portion, purchased gas cost rate, Reading, Upper Bucks County, USD, wholesale natural gas prices.