Just a month after they announced a 9.2 percent increase in projected gas supply charges effective next August first, National Fuel Gas Distribution Corporation today revealed their quarterly adjustment for the current filing year is being dropped by 6.7 percent.
National Fuel says the decrease is due to falling natural gas market prices attributed largely to increasing Marcellus shale gas production. The projection for August could still be revised through another filing with the Public Utility Commission.
The company says today’s revision should mean a $5.16 per month drop in the “typical” residential customer’s natural gas bill. The August projection forecasted a $7.02 hike in that average bill.
Meanwhile, in a move indicating we are using less natural gas these days, National Fuel also adjusted their definition of a “typical” residential customer from someone using 95,000 cubic feet of natural gas per year to a formula based on 90,000 cubic feet.