Dover, Delaware — Due to continued declines in the cost of natural gas, Chesapeake Utilities today filed an application with the Delaware Public Service Commission to reduce its Gas Sales Service Rates for Delaware customers. Upon approval, the average residential heating customer can expect to save as much as $25 on their monthly winter utility bill. The Company has requested the rate change to be effective for bills rendered on or after February 1, 2009.
“We’ve seen the cost of natural gas come down recently and we are requesting an adjustment to our rates to reflect that reduction,” explained Jennifer Clausius, Manager of Pricing and Regulation for Chesapeake Utilities Corporation. “’We’re pleased to be able to pass that savings along to our customers, especially at a time when it’s needed the most.”
The average residential heating customer using 700 Ccf per year will experience an annual decrease of approximately 11%, or $13 per month. During the winter heating season, the average residential heating customer using 110 Ccf per month will experience an annual decrease of approximately 12%, or $25 per winter month.
Chesapeake Utilities requested this reduction in rates as a result of the lower projected cost of the natural gas commodity in the marketplace. The cost of natural gas is strictly a pass-through of charges incurred by Chesapeake Utilities and no profit is earned on these costs or as a result of this charge.
The typical annual scheduled adjustment date for changing the Gas Sales Service Rates is November 1. The November 1 rates are based on the projected cost of the natural gas for the twelve-month period November through October. Chesapeake Utilities is filing for an “out-of-cycle” adjustment to its Gas Sales Service Rates in this instance due to the continued decline in natural gas prices.
To learn how you can conserve energy and save money, please visit the Chesapeake Utilities web site at www.chpkgas.com or download the Energy Saving Tips brochure at : https://rrr.chpkgas.com/wp-content/uploads//2012/06/Energy-Savings-Tools-Tips_final.pdf.
Chesapeake Utilities’ natural gas distribution operations serve approximately 62,900 residential, commercial and industrial customers in Delaware, Maryland and Florida. The Delaware division serves southern New Castle County and is the only natural gas distribution system serving Delaware’s Kent and Sussex counties. Chesapeake Utilities is a Division of Chesapeake Utilities Corporation.
Chesapeake Utilities Corporation (NYSE: CPK) is a diversified utility company engaged in natural gas distribution, transmission and marketing, propane distribution and wholesale marketing, advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at www.chpk.com.
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FOR MORE INFORMATION:
Contact: Jennifer Clausius, Manager of Pricing and Regulation
Chesapeake Utilities Corporation
350 S. Queen Street
Dover, DE 19904
302.736.7818 – [email protected]
Media Contact: Sydney Davis, Communications Manager
Chesapeake Utilities Corporation
909 Silver Lake Blvd.
Dover, DE 19904
302.736.7828 – [email protected]
