LEXINGTON, Ky. — Columbia Gas of Kentucky announced a rate decrease on Tuesday after receiving approval from the Kentucky Public Service Commission for its most recent gas cost adjustment.
Effective March 1, Columbia Gas of Kentucky’s gas supply cost will decrease by 8.12%, or about 58 cents, to $6.619 per Mcf (1,000 cubic feet) from the last quarter.
Columbia Gas of Kentucky adjusts its gas supply cost quarterly to reflect current market conditions, the company said. It also said that natural gas distribution companies do not earn a profit on their gas commodity costs and Columbia Gas of Kentucky passes the cost along to customers without markup.
A customer’s monthly bill is composed of two primary components: the gas supply cost and delivery costs. The delivery charges cover the cost of delivering the gas to the customer’s home or business through the company’s pipeline infrastructure, as well as line inspection, repair and 24-hour emergency service. The gas supply cost includes the commodity cost, interstate pipeline charges and storage costs.
The next scheduled adjustment will be in June 2022, the company said.
The PSC approved an increase in the delivery charge that took effect on Jan. 2, 2022. For the typical residential customer, the impact was about a 10% increase, or about $8.15 per month.
More information about how the company bills customers is available on the company’s website at ColumbiaGasKy.com/mybill.
Columbia Gas said it encourages customers to enroll in the Budget Payment Plan, which spreads winter heating costs throughout the year and allows customers to pay the same amount every month. The Budget Payment Plan begins in May of each year, but customers can enroll at any time. For information, visit ColumbiaGasKy.com/budget.
Columbia Gas is also offering flexible payment plans and financial assistance for customers experiencing financial hardship. Visit ColumbiaGasKy.com/assistance for information. Qualifying customers may also qualify for federal assistance from the Low Income Home Energy Assistance Program through Community Action by calling 1-800-244-2275.