Elizabethtown Gas Announces Natural Gas Cost to Remain Flat for Customers

Jun 01, 2010, 15:34 ET from AGL Resources

UNION, N.J., June 1 /PRNewswire-FirstCall/ -- Elizabethtown Gas (ETG) announced today it has filed its Basic Gas Supply Service (BGSS) petition with the New Jersey Board of Public Utilities (NJBPU) as required for a gas commodity cost charge. In the filing, the company is proposing to maintain the current rate of $0.8031 through the next gas cost recovery period, which starts October 1.

Natural gas prices are expected to remain low, with an abundant supply of natural gas in storage heading into the summer months.

"We are happy that we are able to maintain our existing rate and we strive to obtain low-cost, reliable supplies for our customers," said Don Carter, vice president, Elizabethtown Gas.

The BGSS clause serves as the mechanism to pass along gas costs directly to customers. This portion of the customer's bill – about 65 percent of the total bill – is a direct pass-through charge without any mark-up from Elizabethtown Gas.

"Customers can also reduce their monthly natural gas bills by taking advantage of energySMART," said Carter. "Our energySMART programs can help customers save money on measures they can take to improve energy efficiency while potentially increasing the value of their homes. One of the programs offers qualified residential customers a $900 rebate from Elizabethtown Gas if they install a new high-efficiency natural gas furnace."

For more details on our energySMART program visit www.elizabethtowngas.com.

About Elizabethtown Gas

Elizabethtown Gas, a wholly owned subsidiary of AGL Resources (NYSE: AGL), provides natural gas delivery service to approximately 273,000 residential, business and industrial natural gas customers in New Jersey. In operation since 1855, the company serves parts of Union, Middlesex, Sussex, Warren, Hunterdon, Morris and Mercer counties. For more information, visit www.elizabethtowngas.com

About AGL Resources

AGL Resources (NYSE: AGL), an Atlanta-based energy services company, serves approximately 2.3 million customers in six states. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout North America. As an 85-percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. The company also owns and operates Jefferson Island Storage & Hub, a high-deliverability natural gas storage facility near the Henry Hub in Louisiana. For more information, visit www.aglresources.com.

Forward-Looking Statements

Certain expectations and projections regarding our future performance referenced in this press release are forward-looking statements. Forward-looking statements involve matters that are not historical facts and because these statements involve anticipated events or conditions, forward-looking statements often include words such as "anticipate," "assume," "believe," "can," "could," "estimate," "expect," "forecast," "future," "goal," "indicate," "intend," "may," "outlook," "plan," "potential," "predict," "project," "seek," "should," "target," "would," or similar expressions. Forward-looking statements contained in this press release include, without limitation, the projection of the average residential customer's annual bill in 2010 to be lower than in 2009, our belief that natural gas prices should remain low and in abundant supply in storage heading into the summer months, and our ability to obtain low cost, reliable supplies for our customers. Our expectations are not guarantees and are based on currently available competitive, financial and economic data along with our operating plans. While we believe our expectations are reasonable in view of the currently available information, our expectations are subject to future events, risks and uncertainties, and there are several factors - many beyond our control - that could cause results to differ significantly from our expectations.

Such events, risks and uncertainties include, but are not limited to, changes in price, supply and demand for natural gas and related products; the impact of changes in state and federal legislation and regulation including changes related to climate change; actions taken by government agencies on rates and other matters; utility and energy industry consolidation; financial market conditions, including recent disruptions in the capital markets and lending environment and the current economic downturn; the impact of natural disasters such as hurricanes on the supply and price of natural gas; acts of war or terrorism; and other factors which are described in detail in our filings with the Securities and Exchange Commission, which we incorporate by reference in this press release. Forward-looking statements are only as of the date they are made, and we do not undertake to update these statements to reflect subsequent changes.

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