Peoples Gas Customers Seeing Lower Bills This Month

Apr 24, 2001, 01:00 ET from People's Gas System

    TAMPA, Fla., April 24 /PRNewswire Interactive News Release/ -- Starting
 this month, the average residential Peoples Gas bill will decrease by
 approximately $4.50 per month.  This decrease reflects seasonal factors
 affecting the use of natural gas and subsequently lowering its price.
     For Peoples Gas, the cost of natural gas is what is known as a "pass-
 through" cost -- there is no mark-up on the commodity; customers are charged
 what the utility pays its suppliers.  This charge, known as the Purchased Gas
 Adjustment, makes up a portion of each residential customer's bill and will
 decrease by 15 percent starting with April billing cycles.
     This reduction follows an increase in the PGA approved by the FPSC in
 January, which was a result of harsh winter weather. Unusually cold
 temperatures put demand for natural gas at an all-time high, while at the same
 time, supplies were low.  This led to the skyrocketing natural gas prices
 experienced throughout the nation.
     The reduction in the Peoples Gas PGA will also mean lower bills for
 commercial and industrial customers as well.
     Vice President of Regulatory Affairs Mary Jo Pennino said, "While the
 natural gas market remains unstable, Peoples Gas is pleased to lower our
 prices at this time.  We are closely monitoring the situation and will
 continue to pass cost reductions along to customers if there is a further
 decline in natural gas prices."
     Peoples Gas System, a unit of TECO Energy, Inc., (NYSE:   TE) is Florida's
 leading natural gas distributor with more than 260,000 customers.  TECO Energy
 is a diversified, energy-related holding company based in Tampa.  In addition
 to Peoples Gas, its principal businesses include Tampa Electric, TECO Power
 Services, TECO Transport, TECO Coal, TECO Coalbed Methane, TECO Propane
 Ventures and TECO Solutions.
 
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SOURCE People's Gas System
    TAMPA, Fla., April 24 /PRNewswire Interactive News Release/ -- Starting
 this month, the average residential Peoples Gas bill will decrease by
 approximately $4.50 per month.  This decrease reflects seasonal factors
 affecting the use of natural gas and subsequently lowering its price.
     For Peoples Gas, the cost of natural gas is what is known as a "pass-
 through" cost -- there is no mark-up on the commodity; customers are charged
 what the utility pays its suppliers.  This charge, known as the Purchased Gas
 Adjustment, makes up a portion of each residential customer's bill and will
 decrease by 15 percent starting with April billing cycles.
     This reduction follows an increase in the PGA approved by the FPSC in
 January, which was a result of harsh winter weather. Unusually cold
 temperatures put demand for natural gas at an all-time high, while at the same
 time, supplies were low.  This led to the skyrocketing natural gas prices
 experienced throughout the nation.
     The reduction in the Peoples Gas PGA will also mean lower bills for
 commercial and industrial customers as well.
     Vice President of Regulatory Affairs Mary Jo Pennino said, "While the
 natural gas market remains unstable, Peoples Gas is pleased to lower our
 prices at this time.  We are closely monitoring the situation and will
 continue to pass cost reductions along to customers if there is a further
 decline in natural gas prices."
     Peoples Gas System, a unit of TECO Energy, Inc., (NYSE:   TE) is Florida's
 leading natural gas distributor with more than 260,000 customers.  TECO Energy
 is a diversified, energy-related holding company based in Tampa.  In addition
 to Peoples Gas, its principal businesses include Tampa Electric, TECO Power
 Services, TECO Transport, TECO Coal, TECO Coalbed Methane, TECO Propane
 Ventures and TECO Solutions.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X23538813
 
 SOURCE  People's Gas System