Natural gas commodity costs lowest in 25 years; benefits passed to customers
(LOUISVILLE, Ky.) — Customers concerned about increases in their energy bills can take solace in the fact that lower natural gas commodity costs are helping hold bills down. In fact, Louisville Gas and Electric Company’s natural gas customers could potentially see their overall bill decrease 8% beginning in May.
At the end of March, LG&E filed its quarterly gas supply clause (GSC) with Kentucky Public Service Commission for the months of May, June and July. If approved, LG&E’s residential natural gas customers’ total bill will be 16% lower than the same time period in 2019, and 8% lower than the three previous months based on gas use of 60 Ccf/month. LG&E is passing along to customers some of its lowest natural gas costs since August 1995, and that is good news for customers. LG&E recovers from customers only the actual cost of the natural gas that it incurs.
In addition, lower costs of natural gas are helping hold down LG&E and KU customers’ electric bills as well. The lower fuel costs are reflected in the “Fuel Adjustment Clause” line item on customers’ electric bill.
“This is a much-needed break for our customers who are dealing with the financial impacts of the coronavirus,” said Paul Thompson, LG&E and KU chairman, CEO and president. “As a company, we are taking additional steps to help our customers minimize and manage their energy bills and providing support for the communities we serve. The lower natural gas costs will mean more money for our customers during this difficult time.”
Customers who are having difficulty paying their bill are encouraged to contact LG&E and KU. Customer care representatives will work with customers to develop payment arrangements and connect them with available resources for additional financial support.
Customers can further reduce their energy bills through various energy efficiency tips outlined on the company’s website, lge-ku.com.
Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve nearly 1.3 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 329,000 natural gas and 418,000 electric customers in Louisville and 16 surrounding counties. KU serves 558,000 customers in 77 Kentucky counties and five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.