ST. LOUIS, Dec. 21, 2012 /PRNewswire/ -- For the first time in three years, Laclede Gas Company, a subsidiary of The Laclede Group, Inc. (NYSE: LG), filed a general rate case with the Missouri Public Service Commission (MoPSC).
"This general rate case is being filed to recover a portion of the significant investments Laclede Gas has made in the maintenance and operation costs for the 16,000 miles of natural gas pipelines and delivery services that provide a safe and reliable supply of natural gas to Laclede Gas customers around the clock," said Steven Lindsey, president of Laclede Gas Company.
"Every day our customers rely on natural gas for a home cooked meal, warm shower, and dry clothes. To provide this, Laclede Gas invests in the people and pipelines delivering natural gas across our service area. The investments we make today are aimed at making our pipeline system safer, more efficient and more responsive to our customers," said Lindsey.
This filing will impact the 40 percent of a typical residential bill that today covers the delivery and service costs to operate, maintain and upgrade natural gas pipelines across the Laclede Gas service area. Due to historically low natural gas prices, this November, Laclede Gas filed to decrease the remaining 60 percent of a residential bill that covers the cost of natural gas. Due to these savings, on an inflation-adjusted basis, customers will be paying less for natural gas service than they paid almost a decade ago. Natural gas remains one of the most cost effective energy sources available today.
Customers will not be impacted by this general rate case this winter as the MoPSC will conduct a review of the filing that may take up to 11 months. If approved in its entirety, an average residential customer would see an increase of $4.93 per month. The proposed new rates would provide net additional revenues of $48.4 million, exclusive of revenues Laclede Gas is already collecting.
Laclede Gas offers energy efficiency and assistance programs for all customers with a special focus on elderly, disabled and low-income customers. This rate case filing will continue those efforts to help neighbors in need.
ABOUT LACLEDE GAS COMPANY
A subsidiary of The Laclede Group, Inc. (NYSE: LG), Laclede Gas Company has provided safe and reliable service to the residents of the St. Louis metropolitan area for more than 150 years. It is the largest gas distribution company in Missouri, serving approximately 630,000 residential, commercial and industrial customers in St. Louis City and parts of 10 counties in eastern Missouri. For more information, please visit www.LacledeGas.com.
SOURCE Laclede Gas Company