November 9, 2016 - 4:02 PM EST
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Increased Wholesale Natural Gas Prices Lead to Rate Adjustment for Laclede Gas Customers

ST. LOUIS, Nov. 9, 2016 /PRNewswire/ -- Wholesale natural gas prices have increased during the past year and this will necessitate a natural gas price adjustment for Laclede Gas customers. Approved by the Missouri Public Service Commission today, Laclede Gas customers would pay an average of $0.48 per therm* for the cost of gas. The change reflects an increase in the prices charged by Laclede's wholesale natural gas and pipeline transportation suppliers during the past year. Compared to last winter's rates, this would mean an increase of about $4.17 per month, or six percent of the overall bill for a typical residential customer. Weather and other factors that affect customer usage may also impact the customer's bill.

"Natural gas remains the most cost-effective heating source for homes. We work hard to manage all of our natural gas supply resources in the most efficient manner possible and pass savings directly on to customers. In fact, this time last year, we were able to lower the rate for customers because we were paying lower prices," said Steve Lindsey, president of Laclede Gas.

For customers looking to pay the same amount on their gas bill each month, Laclede Gas offers budget billing to all customers. The free service provides customers with consistent bill amounts throughout the year. Customers can enroll today and the payment plan will start on their next billing cycle. To sign up, call 314-621-6960 or toll-free 800-887-4173.

This rate appears on bills as "Cost of Gas" and accounts for more than half of a typical residential customer bill. The remaining portion includes pipeline maintenance and upgrade costs, as well as state and local taxes that MGE incurs to deliver that gas safely and reliably to homes and businesses.

*A therm is a unit of heat equal to burning 100 cubic feet of natural gas.

ABOUT LACLEDE GAS COMPANY 
Laclede Gas Company has provided safe and reliable natural gas service to Missouri for more than 150 years. Now including customers from Missouri Gas Energy, we are the largest gas distribution company in Missouri, delivering some of the nation's cleanest energy to more than 1.1 million customers. Laclede serves residential, commercial and industrial customers in the St. Louis and Kansas City metropolitan areas and 40 counties throughout Missouri. Laclede Gas Company is a subsidiary of Spire, traded on the New York Stock Exchange under the symbol SR. For more information, please visit www.LacledeGas.com.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/increased-wholesale-natural-gas-prices-lead-to-rate-adjustment-for-laclede-gas-customers-300360079.html

SOURCE Laclede Gas Company


Source: PR Newswire (November 9, 2016 - 4:02 PM EST)

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