For Immediate Release
Prices Will Drop for Customers for the Second Year in a Row
WILMINGTON , Del - An increase in the production of natural gas coupled with a decrease in the amount of natural gas used over the past year is resulting in a decrease in rates for Delmarva Power's more than 121,000 natural gas customers. This is the second year in a row natural gas prices have gone down for Delmarva's customers.
Under a proposed rate adjustment requested by Delmarva Power, a typical residential customer who uses roughly 120 ccf of natural gas per month during the heating season will see an overall bill decrease of 4 %, or $7.01 per month, from $177.38 to $170.37. The impact on commercial and industrial natural gas customers will vary greatly according to usage, with most customers seeing overall bills fall from about 2.4% to 5.7%.
The 2007/08 Gas Cost Rate (GCR) is detailed in today's Delmarva Power filing to the Delaware Public Service Commission. The GCR filing which is made every year at this time, adjusts rates to reflect the costs the company incurs to buy natural gas on behalf of its customers. The company passes through these costs without any profit.
The lower natural gas rates will go into effect November 1, pending Public Service Commission approval.
A detailed fact sheet on the filings is available on www.delmarva.com .
Delmarva Power, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe and reliable energy to more than 500,000 electric delivery customers in Delaware, Maryland and Virginia and over 121,000 natural gas delivery customers in northern Delaware .