UGI to raise gas rates
UGI Penn Natural Gas customers will face heating bill increases beginning June 1.
“Wholesale natural gas prices have been subject to upward price pressure over the past six months, and this adjustment reflects those higher costs,” Paul Szykman, UGI’s chief regulatory officer, said.
UGI is required to file its gas cost rates annually for review with the PUC and may adjust these rates quarterly to reflect changes in wholesale natural gas prices. By law, utilities cannot earn a profit on the natural gas commodity portion of a customer’s bill. Utilities are required to pass the cost of the natural gas they purchase directly through to customers without any markup.
If UGI’s proposed rates are approved, the bill for a typical residential retail heating customer who uses about 91 hundred cubic feet of natural gas per month will increase from $80.58 per month to $88.50 on June 1 with no additional change on Dec. 1.
The bill for a typical commercial retail customer using 29.6 thousand cubic feet per month will increase from $201.45 per month to $226.59 on June 1 with no additional change at the end of the year.
The rate hike is UGI’s second this year.