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Elizabethtown Gas to lower natural gas supply charge

UNION, NJ. – June 3, 2014 – Elizabethtown Gas, a subsidiary of AGL Resources Inc., has filed a petition with the New Jersey Board of Public Utilities to lower rates for residential natural gas customers.  The proposed cost reduction, which is set to take effect on Oct. 1, 2014, will lower natural gas bills by approximately 10 percent next winter. 
  
Based on Elizabethtown Gas’ Basic Gas Supply Services (BGSS) filing, the average monthly bill (including the base charge) of a residential heating customer who uses 100 therms of gas per month would be lowered from $118.44 to $106.48, a savings of $11.96.  
  
Elizabethtown Gas purchases gas supplies for its customers without markup, and recovers the costs it incurs through the BGSS rate, which is adjusted annually to reflect changes in market conditions. Although the prolonged winter caused volatility in the commodity market, Elizabethtown Gas took proactive steps to reduce its gas costs by diversifying its supply purchases to shield customers from the full effect of the winter conditions. 
  
“We are pleased to pass these cost savings to our customers through the BGSS rate,” said Brian MacLean, vice president of operations for Elizabethtown Gas. “The abundance of clean-burning, domestically produced natural gas has resulted in declining prices over time. Consequently, this decline, coupled with the efforts of Elizabethtown Gas and its asset manager, Sequent Energy Management LP, to maximize the value of our gas supply assets, has resulted in the proposed reduction in the BGSS rate.” 
  
Additionally, Elizabethtown Gas this month will begin issuing one-time credits to customers based on a recent rate adjustment. The refund will be noted on customer’s bills as a reduction associated with one of the programs included in the Consolidated Adjustment Charges (CAC).

 

About Elizabethtown Gas

Elizabethtown Gas, a wholly owned subsidiary of AGL Resources (NYSE: GAS), provides natural gas delivery service to approximately 279,000 residential, business and industrial natural gas customers in New Jersey. In operation since 1855, the company serves parts of Union, Middlesex, Sussex, Warren, Hunterdon, Morris and Mercer counties. For more information, visit www.elizabethtowngas.com
  

About AGL Resources 

AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services and midstream operations. AGL Resources serves approximately 4.5 million utility customers through its regulated distribution subsidiaries in seven states. The company also serves approximately 630,000 retail energy customers and approximately 1.2 million customer service contracts through its SouthStar Energy Services joint venture and Pivotal Home Solutions, which market natural gas and related home services. Other non-utility businesses include asset management for natural gas wholesale customers through Sequent Energy Management, and ownership and operation of natural gas storage facilities. AGL Resources is a member of the S&P 500 Index. For more information, visit www.aglresources.com
  

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