Elizabethtown Gas files to lower residential gas bills
UNION, N.J. - June 1, 2012 - Elizabethtown Gas residential customers could spend less to heat their homes this upcoming winter. The company has filed a petition with the New Jersey Board of Public Utilities to lower rates for supplying natural gas to residential customers by an average of 2.3 percent.
Beginning Oct. 1, 2012, the Basic Gas Supply Service (BGSS) rate would be reduced from the current $0.6924 per therm to $0.6663 per therm. This reduction would lower the average monthly bill (including the base charge) of a residential heating customer who uses 100 therms of gas per month from $115.75 to $113.14, a savings of $2.61.
"The proposed reduction in gas supply rates reflects the continuing decline in wholesale natural gas prices, as well as effective strategies by Sequent Energy Management, L.P., the company's asset manager, to optimize Elizabethtown Gas' idle capacity to lower fixed costs of the system," said Brian MacLean, Vice President of Operations, Elizabethtown Gas. "We are pleased to pass these cost savings to our customers."
The BGSS rate is designed to allow the company to recover the cost of the gas supplies it purchases for customers. The company passes those costs to customers with no markup or profit, and adjusts the rates annually to reflect changes in wholesale natural gas prices.
About Elizabethtown Gas
Elizabethtown Gas, a wholly owned subsidiary of AGL Resources (NYSE: GAS), provides natural gas delivery service to approximately 276,000 residential, business and industrial natural gas customers in New Jersey. In operation since 1855, the company serves parts of Union, Middlesex, Sussex, Warren, Hunterdon, Morris and Mercer counties. For more information, visit www.elizabethtowngas.com.
About AGL Resources
AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services, midstream operations and cargo shipping. As the nation's largest natural gas-only distributor based on customer count, AGL Resources serves approximately 4.5 million utility customers through its regulated distribution subsidiaries in seven states. The company also serves more than 1 million retail customers through its SouthStar Energy Services joint venture and Nicor National, which markets natural gas and related home services. Other non-utility businesses include asset management for natural gas wholesale customers through Sequent Energy Management, ownership and operation of natural gas storage facilities, and ownership of Tropical Shipping, one of the largest containerized cargo carriers serving the Bahamas and Caribbean region. AGL Resources is a member of the S&P 500 Index. For more information, visit www.aglresources.com.
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CONTACT: Duane Bourne
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Source: AGL Resources via Thomson Reuters ONE
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