Posted: Dec 30, 2021 / 09:22 PM EST
Updated: Dec 30, 2021 / 09:22 PM EST
National Fuel is projecting a decrease in overall gas supply for next winter, according to a news release sent Thursday by National Fuel.
According to the release, the company is projecting a decrease in overall gas supply totaling approximately $111.87 per year. If approved, the monthly bill for a typical residential customer would decrease from $86.35 to $77.03 per month or by 10.80%. This would start in August of 2022.
The primary reason for this decrease is that the costs associated with the purchase and transmission of natural gas are projected to be lower than those reflected in current rates, the company stated in their release. Upon approval, pricing will be adjusted quarterly to reflect current market prices.
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This forecast is for prices to be experienced next winter and must be thoroughly reviewed and approved by the Pennsylvania Public Utility Commission (PUC). National Fuel is required by law to shop for the most reasonably priced gas while still maintaining an adequate supply for approximately 200,000 customers in Pennsylvania.
National Fuel is required to pass those changes to customers, without any mark-up or discount/
Read More: National Fuel projecting decrease in overall gas supply next winter