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Natural gas costs may soon drop

Pending approval by the state Public Utility Commission, the cost of heating homes and hot water and firing up the stove could decrease.

Linda Petrichevich, the vice president of regulatory affairs at Peoples Natural Gas, said the company is asking the PUC to approve a decrease in cost per unit of natural gas.

The decrease would affect all Peoples Natural Gas customers, she said.

She said the average monthly customer bill of $94.99 would drop to $91.60, and an industrial or commercial customer that usually sees a bill of $2,553 could see a monthly savings of more than $125.

The decrease is based on predicted gas procurement, or how Peoples will get its gas in the upcoming year, said Barry Kukovich, Peoples' manager of community affairs.

He said the prediction is included in the company's annual filing with the PUC each year, which requires a notice be placed in newspapers of record across the state.

“This is a pass-through cost (for Peoples),” Kukovich said. “We don't make any money at all.”

Petrichevich said shale gas production in the area figured into the requested price decrease.

“It impacts us,” she said. “The surplus of natural gas available in this area is keeping prices low.”

Petrichevich would not say whether the company most often requests increases or decreases in the company's annual filing with the PUC.

“We're looking at projected gas costs in the financial market and using those to say 'This is what we expect,'” she said.

Asked about the timing of the potential decrease, when warm temperatures are on their way, Petrichevich remains optimistic.

“Next winter will be great,” she said.

Peoples Natural Gas will appear before the PUC in a series of hearings on the price changes to advocate for the new prices.

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