DETROIT – MichCon, DTE Energy’s natural gas utility, will ring in the New Year with a rate reduction that will save its 1.2 million Michigan customers about $35 over the remainder of the heating season.
The company announced Thursday that it will drop the price of natural gas
from $7.50 per thousand cubic feet (Mcf) to $7.00 per Mcf, effective Jan.
1. MichCon was able to reduce its natural gas rate — called the Gas Cost
Recovery factor — because wholesale gas prices have fallen recently, and
because the company entered the heating season with a significant supply of
natural gas already in storage.
“With winter’s coldest months still ahead of us, we’re extremely happy
to be able to reduce our natural gas price and pass the savings on to our
customers,” said Jerry Norcia, president and chief operating officer of
MichCon.
“Because we’re able to store large quantities of natural gas, we can
take advantage of seasonal pricing, and acquire gas when demand is down and
prices are lower,” Norcia said.
Even with the price reduction, MichCon recognizes that heating bills
still may be a challenge for some customers — particularly senior citizens
and households with limited incomes. The company offers a number of
programs to help customers manage their energy bills, and also can assist
customers who may need financial assistance.
“With Michigan’s tough economy, we are committed to working with our
customers to help them keep the heat on this winter,” Norcia said.
“Customers who think they may have difficulty paying their energy bill
should call DTE Energy at .
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