National Fuel Gas Distribution Corporation has announced that their gas supply charge for their natural gas customers will be increasing, effective this Thursday, May 1.
The company’s quarterly adjustment connected with the price they pay for the gas they distribute will amount to about 7.3 percent. National Fuel spokesperson Sandra James says this move will raise the “typical” residential customer’s bill by $5.55 a year to $81.39.
National Fuel attributes increased demand for natural gas brought about by a longer, colder winter to current higher market prices for their product.
Pennsylvania utility companies are permitted to update their gas supply charges on a quarterly basis to reflect the changes in the market price of natural gas. So, the next adjustment could not come before August 1. The utilities are required to pass along to their customers the actual increase in gas supply charges without any mark-up or profit.