By Jim Donovan: Philadelphia Gas Works (PGW) today announced that natural gas rates will decrease this fall for PGW’s residential, commercial, industrial and municipal customers. The rate for residential customers, for instance, will be adjusted for the next three months from its current $1.51 per hundred cubic feet (Ccf) to $1.40 per Ccf for residential customers.
On an annualized basis, the average residential customer using 850 Ccf, will lower their PGW bill by approximately 6.9 percent per month and equates to savings of $99 per year.
PGW reviews its gas rate quarterly and determines, based on market conditions, whether it should change. The new rate began September 1, 2014 and will stay in effect through November 30, 2014.