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BGE Forecasts 13% Lower Natural Gas Bills This Winter (Provides Estimate of Default Service Rate)
November 07,2014 Baltimore Gas and Electric Company today provided a forecast of winter heating bills, stating that, assuming normal winter weather temperatures and projected stability in natural gas commodity prices, BGE residential natural gas customers can expect their total gas bills to be approximately 13 percent lower than last winter. BGE estimates that its natural gas commodity price will be approximately 56 cents per therm this winter heating season, compared to 57 cents per therm last year. A return to normal weather as compared to last winter's colder-than-normal weather would reduce the average total winter gas bill for residential customers who purchase their natural gas commodity from BGE by about $82 over the five-month winter heating season (Nov. 1, 2014 - March 31, 2015). “Overall, we continue to see natural gas commodity prices that are more than 16 percent lower than they were five years ago,” said Mark D. Case, vice president of strategy and regulatory affairs for BGE. “While we cannot control market conditions affecting the price of natural gas supply, our acquisition strategy helps limit the impact of any rising prices, which may occur during the colder months when demand is increasing. BGE purchases and stores approximately 43 percent of our natural gas supply in the summer and purchases another 7 percent at fixed prices.”
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