National Fuel is raising its rates by about 5 percent starting tomorrow.
The monthly bill of a typical residential customer will go from $73 to $77.
“The primary reason for this change is an increase in the charges the Company must pay to bring the gas supply to our service area, combined with a slightly higher predicted cost for the commodity for the next twelve months from August 1, 2012 through July 31, 2013,” according to Sandra James, Director of Corporate Communications.
She says, “Even with this increase, gas supply charges will be 16.9 percent lower than at this time last year.”
Back in January, National Fuel had projected that the increase would be 10 percent, but they say the lower rate is a direct result of the increase in natural gas supplies associated with the Marcellus and other shale gas formations.