ST. LOUIS, Feb. 21 /PRNewswire-FirstCall/ -- Laclede Gas, which serves
more than 630,000 natural gas customers in St. Louis and surrounding counties
in Eastern Missouri, today filed an unscheduled Purchased Gas Adjustment with
the Missouri Public Service Commission to lower customer bills by about 13%.
This adjustment is made possible by reduced wellhead natural gas prices
that has occurred since Laclede made its Winter PGA filing on Nov. 2, 2001.
The wellhead price Laclede must pay to acquire the gas supplies in a
competitive national market, along with the cost of storing that gas and then
transporting it from production fields to Laclede's service area, normally
account for about two-thirds of a residential customer's total natural gas
Assuming Commission approval, effective March 7, 2002, a typical Laclede
residential customer's gas bill during the March through May period would
decrease by approximately $26, or 13%. To put this reduction into perspective,
the general rate increase sought by Laclede last month would raise customers'
monthly bills only $4.40, or 6.8%.
Laclede Gas, the largest natural gas distribution company in Missouri, is
a member of The Laclede Group (NYSE: LG).
SOURCE Laclede Gas Company