Wednesday, January 31, 2001
Another rate hike in pipeline
By Mike Boyer
The Cincinnati Enquirer
Spring's coming, but so's another natural gas price hike.
Cinergy Corp. has told Ohio regulators it expects its gas costs will rise another 5 percent for the three months starting March 1.
While that's dramatically less than the double-digit increases the utility passed through to customers in November and December, it represents about a 70 percent increase over what the average residential customer paid in the March through May period last year.
For the average residential customer of Cincinnati Gas & Electric Co. using 10,800 cubic feet of gas, that would be a monthly gas bill of $114.36 (compared with $67.30 for the same usage a year ago).
The same residential customer of Union Light, Heat & Power Co. in Northern Kentucky, would have a monthly bill of $120.56 (compared with $74.59 a month in the same period last year). The rates are different because Northern Kentucky is served by a different pipelines than those in southwest Ohio.
Cinergy estimates that average gas consumption will decline from the current 25,000 cubic feet a month to 10,800 cubic feet monthly from March through May period because of warmer weather.
Cinergy, which is required by state regulators to file its gas cost estimate 30 days before the effective date of the new rates, sent those estimates to Ohio officials at the close of business Friday.
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