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Lower Prices, Tax Reform to Save Money for Columbia Gas Customers

Tuesday, February 27, 2018

Customers on our Standard Choice Offer (SCO) will see dramatically lower prices in March, as warmer weather drops the market price for natural gas. In addition, today we proposed to reduce rates thanks to savings created by federal tax reform, investing more than $200 million in safety and reliability improvements while cutting charges to customers.

“We’re happy to provide savings at a time when many customers have faced higher bills due to December and January’s bitter cold weather,” said Dan Creekmur, our president.

The March SCO price of 41 cents per hundred cubic feet of gas is down 20 percent compared to February. Market prices for natural gas have declined thanks to forecasts of continued warmer than average temperatures. SCO customers will further benefit starting in April when the adjustment suppliers add to the market price of natural gas is reduced by about 15 percent.

Savings from tax reform would eliminate a planned $1.24 monthly increase in the charge for the IRP under a proposal made today to the Public Utilities Commission of Ohio (PUCO). The proposal would actually reduce the current charge by 5 cents per month. Customers would receive the benefits of $207 million in gas main and service line replacements made during 2017 at no additional charge. Since 2008, the Infrastructure Replacement Program has increased safety and reliability by replacing about 2000 miles of aging gas lines in neighborhoods around Ohio.

“Our tax costs are included in the rates we charge our customers, so lower tax rates mean we are able to keep our service as affordable as possible,” Creekmur said. He added that we will work with the PUCO to pass back additional savings from tax reform. 

Managing usage and controlling bills

Customers concerned about paying their bill should contact us at 1-800-344-4077 for information on payment assistance programs. Our energy efficiency programs also help customers manage their usage and control their bills. For more information on managing energy costs during cold temperatures, visit https://www.columbiagasohio.com/take-control.