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Some Natural Gas Customers To See Lower Bills

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Oct 9, 2009 8:14 pm US/Eastern

Some Natural Gas Customers To See Lower Bills

PITTSBURGH (KDKA) ― The price of natural gas keeps falling and that's good news for consumers with winter around the corner.

But there is something else to look forward to.

The state's Public Utility Commission has approved refunds for Pennsylvania gas customers. Gas companies aren't allowed to make a profit on natural gas so if they over-collect, the money goes back to the consumer.

Local gas companies are making the adjustment to customer bills differently.

The average Columbia customer who purchased gas during the period from October 1, 2008 through September 30, 2009 will receive a one-time credit on their November residential bill of $170.

Beginning this month, Dominion Peoples will spread their customer refunds over the next 12 months. The average customer will see their bill decrease about $85 a month to $76.

But Equitable Gas is not giving refunds because they did not over-collect on the past quarter. However, customers will see lower bills.

In October of 2008, the average Equitable customer paid $147.87 a month. In October, that bill is now $111.34.

Natural gas usage is down in homes, businesses and industry and the amount of gas in storage is huge.

"Because it's market price set, supply and demand factors come into play and when the demand goes down prices tend to go down," Joe Gregorini, from Dominion Peoples, said.

But how long will it last?

"One of the biggest factors that will determine what prices do going forward is this winter," he added. "If we have a cold winter, the demand for natural gas goes up nationally, that'll put an upward pressure on prices."

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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© MMIX, CBS Broadcasting Inc. All Rights Reserved.