By Jim Donovan: The Philadelphia Gas Works (PGW) today announced that it will decrease what residential customers pay for natural gas. The average residential heating customer will pay about 6.6 percent less per month for supply for the next three months.

The new cost for gas will change from $1.51 per Ccf to $1.40 per Ccf. Residential heating customers will pay $1.40 per one hundred cubic feet (Ccf) of natural gas beginning March 1, 2012. The price for PGW’s commercial, industrial and municipal customers will also decrease on March 1, 2012.

The rate will stay in effect through June 1, 2012, when PGW will determine, based on market conditions, whether or not the rate should change.