OKLAHOMA CITY – Sept. 3, 2008 -- Oklahoma Natural Gas Company customers will have the option of locking in the per-unit cost of the natural gas they use this winter if they choose to enroll in the company's Voluntary Fixed-Price Plan. The company announced today that the program price for natural gas will be $11.048 per Dekatherm, effective for the 12-month period that begins Nov. 1.
"The Voluntary Fixed-Price Plan is a customer choice program that we offer to help customers manage their natural gas bills," said Oklahoma Natural Gas Company President Roger Mitchell. "Participating in this program does not guarantee savings, but it is an option to help reduce the volatility of natural gas prices on customers' bills."
Customers who participate will continue to pay the normal service and delivery charges, and their bills will still vary some according to the volume of natural gas they use. But the cost of the natural gas fuel will not change, if a customer is enrolled in the Voluntary Fixed-Priced Plan. For each Dekatherm used, the natural gas cost portion will be $11.048. A Dekatherm is the approximate amount of energy contained in 1,000 cubic feet of natural gas. Oklahoma Natural Gas Company purchases natural gas supplies for its customers through a competitive bidding process to ensure a competitive price, balanced portfolio and secure supply.
Mitchell stressed that customers who participate in the Voluntary Fixed-Price Plan may pay more or less over a 12-month period than customers who continue to pay the company's normal system price for natural gas. Oklahoma Natural Gas realizes no profit on the sale of natural gas; the company earns a return through regulated charges associated with delivering the natural gas.
Enrollment in the Voluntary Fixed-Price Plan is open to residential and small commercial customers (those using 150 Dekatherms or less annually) and will continue through Oct. 24. Oklahoma Natural Gas Company customers will receive more information about the plan and an enrollment form with their September bills. Customers may also enroll by calling 800-208-7267 or online at www.oklahomanaturalgas.com.
Oklahoma Natural Gas provides natural gas service to more than 800 thousand customers in the state of Oklahoma. It is a division of ONEOK, Inc. (NYSE: OKE), a diversified energy company. ONEOK is the general partner and owns 47.7 percent of ONEOK Partners, L.P. (NYSE: OKS), one of the largest publicly traded limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting much of the natural gas and NGL supply in the Mid-Continent with key market centers. ONEOK is among the largest natural gas distributors in the United States, serving more than 2 million customers in Oklahoma, Kansas and Texas. Its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. ONEOK is a Fortune 500 company.
For more information, visit the Web sites at www.oklahomanaturalgas.com or www.oneok.com.