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Natural Gas Costs to Drop By 30 Percent: Gas Costs to Drop By 30 Percent

Posted on: Saturday, 28 January 2006, 12:00 CST

By Morris Fraser, Northwest Florida Daily News, Fort Walton Beach

Jan. 28--The cost-of-gas portion of bills from Okaloosa Gas District will decrease by 29.6 percent starting Wednesday, the district announced Friday.

The rate will drop from $1.4892 per therm to $1.0486.

"A dollar still is high to me," said Gary Long, Okaloosa Gas' vice president of marketing. "But it's a lot lower than we have been paying."

The district adjusts its billing every three months to account for changes in natural gas prices.

Company CEO Jose Lozano said that despite natural gas prices reaching record prices over the past few months, the district has locked in about 75 percent of its supply requirements for February and March and about 60 percent for April.

"In recent weeks gas prices have been coming down and we have been able to take advantage of that lower pricing," said Lozano.

The new rate will be in effect for February, March and April.

For February, a typical customer using 60 therms of natural gas will see a savings of $26.43.

Customers can visit the utility's Web site at www.okaloosagas.com and use the rate calculator to compare savings based on their usage.

The gas cost is one of three components on customers' bills. The others are the monthly customer and delivery charges.

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Copyright (c) 2006, Northwest Florida Daily News, Fort Walton Beach

Distributed by Knight Ridder/Tribune Business News.

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Source: Northwest Florida Daily News

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