Lower natural gas prices may mean lower utility bills

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LOUISVILLE, Ky. (WTVQ) – Lower natural gas prices caused by a combination of lower demand and increased production has meant lower costs for Louisville Gas and Electric.

And the utility is passing the savings on to customers, it says.

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In fact, Louisville Gas and Electric Company’s natural gas customers could potentially see their overall bill decrease 8% beginning in May, according to an LG&E release.

At the end of March, LG&E filed its quarterly gas supply clause  with Kentucky Public Service Commission for the months of May, June and July.

If approved, LG&E’s residential natural gas customers’ total bill will be 16 percent lower than the same time period in 2019, and 8 percent lower than the three previous months based on gas use of 60 Ccf/month.

LG&E is passing along to customers some of its lowest natural gas costs since August 1995, and that is good news for customers. LG&E recovers from customers only the actual cost of the natural gas that it incurs.

In addition, lower costs of natural gas are helping hold down LG&E and KU customers’ electric bills as well. The lower fuel costs are reflected in the “Fuel Adjustment Clause” line item on customers’ electric bill.

“This is a much-needed break for our customers who are dealing with the financial impacts of the coronavirus,” said Paul Thompson, chairman, CEO and president. “As a company, we are taking additional steps to help our customers minimize and manage their energy bills and providing support for the communities we serve. The lower natural gas costs will mean more money for our customers during this difficult time.”

Customers who are having difficulty paying their bill are encouraged to contact LG&E and KU. Customer care representatives will work with customers to develop payment arrangements and connect them with available resources for additional financial support.