Columbia’s February gas costs to remain far below 2009
Columbus, Ohio – Columbia Gas of Ohio today filed its Gas Cost Recovery (GCR) adjustment for February with the Public Utilities Commission of Ohio (PUCO). The GCR of 42 cents per 100 cubic feet (Ccf) of natural gas will be 55 cents lower than February 2009, when it was 97 cents.
Compared to January 2010, the February GCR will be 1 cent higher. Lower natural gas usage due to slightly warmer temperatures will decrease the typical residential customer’s February bill to $104.31, compared to $106.83 in January. Average residential gas usage is 165 Ccf in January versus 158 Ccf in February.
The change in the February GCR does not affect customers who purchase their gas from a third-party marketer through the Customer CHOICEsm Program, unless the marketer’s rate is tied to Columbia’s GCR. About 53% of Columbia Gas customers purchase their gas directly from the utility.
The February GCR will be in effect from Jan. 29 through Feb. 28. The PUCO requires Columbia to adjust its GCR charge monthly to reflect market conditions.
The February gas cost charge matches a low last seen in the February through April 1999 quarter. At that time, Columbia Gas of Ohio adjusted its gas costs quarterly.
February is the second highest gas usage month of the year for Columbia’s residential heating customers, and is typically one of the months when bills are highest. Natural gas costs make up about 60 percent of the typical residential customer’s bill.
It’s important to remember that, by law, Ohio utilities may not profit on the sale of gas to their retail customers. Columbia merely passes its gas costs through to customers on a dollar-for-dollar basis.
The typical residential customer would see a February bill of $104.31, according to company estimates, compared to $199.84 in February 2009.
Columbia Gas of Ohio, with headquarters in Columbus, is one of the nine energy distribution companies of NiSource Inc. (NYSE: NI). Serving approximately 1.4 million customers in 61 of Ohio’s 88 counties, it is the largest natural gas utility in the state. NiSource distribution companies serve approximately 3.8 million gas and electric customers primarily in seven states.