The Public Service Commission of Utah (PSC) has approved a nearly 30 percent decrease in residential national gas rates requested by Enbridge Gas Utah, the company that formerly operated as Dominion Energy in the state. Enbridge said the 29.53 percent rate adjustment will lower the typical residential customer’s monthly bill by $23.12 and annual bill by $277.44. The rate decrease went into effect July 1 and most customers should start seeing the decrease in their bill at the end July or early August, depending on their billing cycle, Enbridge said.
“We are pleased to be able provide such a large decrease for customers and return our rates to some of the lowest in the nation,” said Judd Cook, vice president and general manager of Enbridge Gas Utah. “Over the last few years, we have seen record-high natural gas costs. We know that has had an impact on our customers. In addition to providing safe and reliable service, affordability is extremely important, and we work hard to pass on the savings from natural gas cost decreases as soon as possible to those we serve.”
At least twice a year, the utility and the PSC use third-party forecasts of natural gas prices to estimate how much the utility’s rates should be adjusted to cover anticipated costs of buying natural gas for its customers. These costs are passed on to customers with no markup and have no impact on the utility’s profits. The “pass-through” adjustments enable the company to change rates to reflect changes in gas supply and other costs.
“While our rates remain affordable and lower than national and regional averages, we understand the economic challenges our customers are facing due to inflation,” the company said. “We will continue providing the financial assistance and flexible payment plans our customers need to keep up with their monthly bills.”