Good news, Delaware residents: You should see cheaper utility bills next month.
On Wednesday, a 23% decrease in Delmarva Power’s natural gas costs was approved by the Delaware Public Service Commission. The entity typically approves natural gas commodity costs every November, but rates can be adjusted throughout the year to prevent regulated utilities from over- or under collecting what is allowed.
Late last month, Delmarva Power filed an application to amend its Gas Cost Rate (GCR), the total purchased gas cost for natural gas service. This does not include the pipes, meters or other expenses.
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The company cited a warmer-than-expected winter and lower-than-forecasted natural gas prices in recent months as the driving factor for the amendment.
“We realize customers have seen higher utility bills over the winter as natural gas costs increased last year. We’re pleased that the Commission took this action and that we’re able to tell customers that a modest amount of relief is on the way,” said Matt Hartigan, executive director of the Public Service Commission, in a press release.
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Now, the average residential gas customer should expect a $5.41 decrease in their bills with usage on and after April 1, according to the Delaware Public Service Commission.
Heating accounts for the biggest portion of consumers’ utility bills, according to the U.S. Department of Energy, so while residents might have been anticipating lower bills now that the weather is warming up, the extra money off from lower rates should still be a welcomed surprise.
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