Lower wholesale natural gas costs expected to result in lower bills for LG&E gas customers
(LOUISVILLE, Ky.) — Exactly three weeks ago temperatures in Louisville plunged to subzero levels with powerful wind that made the cold that much more biting. But since then, temperatures have been on the rise and the warmer weather is expected to translate into lower bills for Louisville Gas and Electric Company’s natural gas customers.
With the National Oceanic Atmospheric Administration predicting above-normal temperatures for many parts of the nation, including Kentucky, for February, March, and April, wholesale natural gas costs — which have risen sharply and stayed volatile over the last two years — are trending lower in response to a reduction in the demand for natural gas.
As LG&E prepares to purchase natural gas to serve customers in the upcoming quarter, the utility has requested permission from its regulator, the Kentucky Public Service Commission, to reduce the associated line item on gas customer bills.
“Purchasing fuel to serve our customers at the lowest cost is among our top priorities and a part of our regular system planning,” said LG&E Vice President of Gas Operations Tom Jessee. “We know that higher natural gas market prices have made managing bills more challenging for customers and we’re pleased to help provide them some much-needed relief.”
The lower costs would go into effect on Feb. 1. Once in place, an LG&E gas customer using 60 CcF (or 6,000 cubic feet) could see a gas cost savings of about 16% on their bill, compared to the current quarter.
Here to help
LG&E wants customers to know we’re here to help. As we work to help reduce costs for customers, the utility also offers various resources to assist customers having difficulty managing their bill:
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Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve more than 1.3 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 333,000 natural gas and 429,000 electric customers in Louisville and 16 surrounding counties. KU serves 566,000 customers in 77 Kentucky counties and five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.
