March 9, 2006 - Austin, Texas - Texas Gas Service residential customers will see another decrease in their gas bill as wholesale natural gas prices continue to fall. A warmer than expected winter across the nation has left large stockpiles of natural gas, causing prices to drop. Falling prices coupled with warmer spring temperatures will mean the average Austin residential customer will pay approximately $60 in March 2006. The cost of natural gas in Austin has decreased seven percent from February to March and has decreased 37% from November through March.
Greg Phillips, vice president for Texas Gas Service's Eastern Region, reminds customers about the possibility of cooler weather in March. "Even with spring on the horizon, March can bring cooler temperatures. We encourage customers to keep thermostats at 68 degrees on those cooler mornings to maintain those lower gas bills. Additionally, now is the time to enroll in our levelized payment plan. Paying the same amount each month will prepare you for the winter season."
Texas Gas Service does not profit from the higher commodity costs. The company charges its customers the same price it pays for natural gas, making the cost of gas a true "pass-through" cost. Texas Gas Service changes the cost of gas factor each month, to reflect current market conditions.
Texas Gas Service created the ABC Plan to help customers budget for their natural gas payments throughout the year. The initial ABC payment is calculated by averaging the customer's gas bill over the last twelve months. Then twice a year, Texas Gas Service compares the payment to the actual usage, and makes an adjustment upward or downward. Texas Gas Service strongly recommends that its customers join the Average Bill Calculation (ABC) plan because the Plan makes the billing predictable and easy on the customers' budget. Customers should call (800) 700-2443.
Texas Gas Service provides natural gas service to approximately 565,000 customers in the state of Texas, including customers in Austin, El Paso, the Gulf Coast and the Rio Grande Valley. Texas Gas Service is a division of Tulsa-based ONEOK, Inc., (NYSE: OKE), a diversified energy company and a leader in the gathering, processing, storage and transportation of natural gas in the mid-continent region of the U.S. ONEOK owns one of the nation's premier natural gas liquids (NGL) systems, connecting much of the NGL supply in the mid-continent with two key market centers. Its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. ONEOK is the majority general partner of Northern Border Partners L.P. (NYSE: NBP), one of the largest publicly-traded limited partnerships. ONEOK is a Fortune 500 company.
For information about ONEOK, Inc. visit the Web site: www.oneok.com.