WILKES BARRE, Pa., June 4 /PRNewswire/ -- PG Energy has filed for a rate
change with the Pennsylvania Public Utility Commission (PPUC) as a part of its
annual gas cost filing and reflects both current and projected natural gas
prices charged by gas suppliers. Any increase, as in this filing, or decrease
is passed directly through to customers, without any profit being realized by
local distribution companies like PG Energy.
This filing translates into an average increase of $2.50 in the monthly
bill of a typical residential heating customer using 136 mcf (thousand cubic
feet) of natural gas annually. The rates for a typical non-heating natural
gas customer using 17 mcf per year will increase by an average $0.31 per
month.
Market conditions can escalate the demand and the price of natural gas.
Prices in the natural gas industry can fluctuate depending on numerous factors
such as weather conditions, the price of other fuels, temperature and demand.
PG Energy competes in the national market for natural gas to provide its
customers with an adequate supply of gas based on existing and projected
seasonal loads. William Eckert, Director of Gas Supply for PG Energy noted,
"This filing reflects the higher gas costs throughout the United States and
Canada. PG Energy realizes that any rate increases can have a financial
impact on customers. That is why we strive to ensure our prudent gas cost
management and purchasing practices provide our customers with natural gas at
the least possible cost."
If approved, the change in rates will become effective December 1, 1998.
The gas cost rate is also subject to quarterly adjustments and as with all
applications for rate changes before the PPUC, this change is subject to PPUC
review prior to implementation.
PG Energy is a regulated subsidiary of Pennsylvania Enterprises, Inc.
(PEI) (NYSE: PNT). PG Energy and its subsidiary, Honesdale Gas Company,
provide natural gas to approximately 150,000 customers in 13 counties in
northeastern and central Pennsylvania. This filing does not affect the
customers of Honesdale Gas Company.
PEI news releases are available 24 hours a day by fax machine or by
visiting the Company website on http://www.pnt.com. To receive a fax copy of
the Company's news releases call 1-800-758-5804 on a touch tone phone and use
PEI's ID No. 684209. Follow the prompted instructions to receive a copy of
the Company's most recent news release or a menu of their latest news
releases. Company news will be faxed to you immediately without charge.
SOURCE Pennsylvania Enterprises, Inc.
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Related links:
http://www.pnt.com
CONTACT:
Albert G. Fereck of PG Energy, 717-829-8756
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