ST. LOUIS, March 4, 2016 /PRNewswire/ -- Today, Laclede Gas requested lower rates for customers for the second time in a year. This follows on the heels of a rate decrease that went into effect last October.
Laclede Gas filed a request with the Missouri Public Service Commission to lower the Cost of Gas rate. If approved, these rates would be the lowest in more than a decade with customers paying an average of $0.39 per therm* for the cost of natural gas. This is good news for customers because a typical residential customer could save an additional $2.46 a month compared to the rates that were lowered last October. With the combined decreases, Laclede Gas customers are saving more than $100 a year on natural gas compared to last spring.
"We come to work every day to find better ways to serve our customers, such as negotiating the best possible price for natural gas. They can trust that we will do everything possible to keep natural gas rates stable and affordable," said Steve Lindsey, president of Laclede Gas. "This year abundant supplies of natural gas and warmer temperatures in our area are helping to keep natural gas costs lower."
The Cost of Gas rate is often the largest part of a natural gas bill, usually around 50-60 percent of the total. So when natural gas prices fall, Laclede passes those savings on to customers. There is no markup on this rate. The remaining Delivery Cost on a bill covers maintenance and infrastructure upgrades to ensure safe and reliable delivery of natural gas 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 The Laclede Group, Inc., traded on the New York Stock Exchange under the symbol LG. For more information, please visit www.LacledeGas.com.
SOURCE Laclede Gas Company