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JEFFERSON CITY—To reflect estimated changes in the wholesale cost of natural gas for the remaining 2010 summer season, Missouri Gas Energy (MGE) customers will see natural gas rates increase under a filing that took effect on July 8.
MGE residential customers currently pay approximately $0.70 per Ccf (per hundred cubic feet) of natural gas. Under this filing, the rate will increase to approximately $0.82 per Ccf, an increase of approximately $0.12 per Ccf.
The PSC continues to encourage customers to work to reduce their energy consumption. A number of energy saving tips can be found on a website www.beenergyefficient.org from the Missouri Public Service Commission and the Missouri Department of Natural Resources.
Approximately 65% to 75% of a customer’s natural gas bill reflects the cost of natural gas from wholesale suppliers. The wholesale cost of natural gas (the cost your local natural gas company must pay to its suppliers for natural gas) is not regulated by the Missouri Public Service Commission. The wellhead cost of natural gas is unregulated and is primarily driven by supply, demand and the weather. The Missouri Public Service Commission does conduct an annual regulatory review to ensure that regulated natural gas companies make prudent decisions in securing natural gas supplies for their customers.
Missouri Gas Energy serves approximately 512,000 natural gas customers in Missouri.