Beginning with the first utility bills in February 2015, natural gas customers of the city of Richmond Department of Public Utilities (DPU) will see a savings on their monthly utility bill. DPU is lowering the Purchased Gas Cost (PGC) portion of the natural gas utility bill from $0.650 to $0.575 per Ccf (100 cubic feet). By law, the city passes along the cost of the natural gas it purchases and delivers to its customers, dollar for dollar without any markup. Other components of the natural gas bill – the distribution charge and customer charge – are unchanged.
The PGC rate of the average residential customer who uses 70 Ccf’s of natural gas per month will pay approximately $86.74 compared to a current bill of $91.99. This equates to an 11.5 percent reduction in the PGC rate charged by DPU. DPU Director Bob Steidel stated, “We welcome the opportunity to pass along these savings to our customers, especially during the heating season when it is most needed.” The city will continue to review and adjust the gas costs on an as needed basis to reflect the price that DPU pays for natural gas.