OKLAHOMA CITY, Okla. -- Jan. 27, 2006 -- Oklahoma Natural Gas Company customers can expect a significantly lower cost for the natural gas they consume in February. The per-Dekatherm charge as reflected in February bills will be $9.589, down from $12.011 in January or a reduction of more than $2.42 per Dekatherm.
"The market conditions that sent natural gas prices higher appear to be easing somewhat, and that's good news for our customers," said Oklahoma Natural Gas Company President Phyllis Worley.
The company estimated that a typical residential customer who uses 14 Dekatherms next month could expect a savings of approximately $35.00--or about 16 percent--when compared with the previous month's cost of gas.
Oklahoma Natural Gas Company purchases natural gas on behalf of its customers through a competitive bidding system. The gas price paid by customers represents the average cost of gas acquired through fixed-price and market index-based contracts as well as gas from storage. Oklahoma Natural Gas does not make a profit on the sale of gas. The company earns a return through charges for service and delivery of the gas; those rates are regulated by the Oklahoma Corporation Commission.
Although gas costs are declining, Worley said the company recognizes that the monthly bills still pose a challenge for some customers, and she urged them to consider participating in the Average Payment Plan, which spreads costs more evenly over the year. Customers may enroll online at www.ong.com, or by calling the company directly.
"We purchase the gas for our customers, and they pay what we pay for it," Worley said. "But we're really in the delivery business. Even though we have no control over the market price of the gas, we do our best through our purchasing practices to reduce volatility and the impact of higher costs. We are also committed to providing payment options through our Customer Choice Programs, and we urge customers to explore those choices."
Contact:
Don Sherry
405-551-6738