PGW drops rates a little for summer

PHILADELPHIA - May 27, 2011 (WPVI) -- The Philadelphia Gas Works (PGW) announced Friday that it is decreasing the amount residential customers pay for natural gas. The average residential heating customer will pay about 1.7 percent less per month for the next three months.

The change reflects a decrease in the forecasted price of the gas purchased from suppliers. The price for gas will drop three cents, from $1.59 per one hundred cubic feet to $1.56 per one hundred cubic feet.

The change will take effect June 1st for residential, commercial, industrial and municipal customers. PGW says the new rate will stay in effect through September 1st, when PGW will determine, based on market conditions, whether or not the rate should change again for fall.

"The Philadelphia Gas Works is dedicated to purchasing, on our customers' behalf, the lowest priced natural gas that we can," said Craig White, President and Chief Executive Officer for PGW.

PGW is owned by the City of Philadelphia and is the largest municipally owned gas utility in the country. More information about the company, including information on the company's rebate programs and information on how to conserve energy year-round, is available at www.pgworks.com.

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