Washington Gas Expects Slight Decrease in Winter Heating Bills and Encourages Customers to Prepare for Heating Season
Public Company Information:
WASHINGTON--(BUSINESS WIRE)--Washington Gas announced today that its customers could expect a 10 to 20 percent decrease in winter heating bills compared with last winter’s bills. The reduction is attributed to gas commodity prices forecasted to be lower than in the winter 2008-2009 winter heating season, as well as a lower consumption forecast, based on normal weather instead of the colder-than-normal 2008-2009 winter. Despite the forecast for lower bills, prices may vary if colder-than-expected temperatures result in an increased demand for natural gas.
“While colder weather and increased demand can increase the market price for natural gas, Washington Gas has already purchased a significant portion of our anticipated winter supplies at prices that are locked in or capped, and that approach will help in protecting customers against seasonal price increases,” said Adrian Chapman, president and chief operating officer at Washington Gas. “The increased domestic supplies of natural gas have resulted in significantly lower commodity prices and our purchasing strategy was well positioned to take advantage of the market developments.”
Gas supply costs - the amount Washington Gas pays to acquire natural gas and have the gas delivered to the system - make up about two-thirds of the average customer’s heating bill. This price appears on the customer’s bill as the per “therm” charge. As a regulated utility, Washington Gas does not charge customers more than the same price that the company pays for the gas supply. The rest of a customer’s bill consists of distribution costs, taxes or other fees levied by state and local governments.
As colder weather approaches, Washington Gas continues to encourage all customers to prepare their homes for the winter heating season by practicing energy efficiency, including the following low-cost or no-cost tips:
For those customers having difficulty paying their gas bills, Washington Gas recommends the following options:
For information about energy assistance, the budget plan, energy efficiency, safety and more, go to washingtongas.com.
Headquartered in Washington, D.C., Washington Gas is a wholly-owned subsidiary of WGL Holdings, Inc. (NYSE: WGL). The parent company holds a group of energy-related retail businesses that focus primarily on retail energy-marketing and commercial heating, ventilating and air conditioning services.
Additional information about WGL Holdings is available on its Web site, wglholdings.com. Go to washingtongas.com for more information about Washington Gas.
Ruben Rodriguez, 202-624-6091