Natural Gas Bills Expected To Be 3 To 5% Lower When Comparing To Last Winter; Bills To Remain Affordable
Evansville – Vectren Energy Delivery of Indiana – South (Vectren), a CenterPoint Energy company, announced today customers should expect a decrease of 3 to 5 percent in their natural gas bills when compared to those of last winter, assuming normal winter weather year-over-year. Low and stable natural gas prices continue to help customers’ bill amounts remain affordable.
Last winter’s weather was normal, which caused bills to be right around the projection. This year, based upon expected natural gas commodity costs and normal winter weather, customers can expect to pay $360 to $370 over the 5-month heating season of November through March based on the average household consumption of approximately 525 therms. By comparison, last year’s average bill amount for the 5-month period had weather been normal, would have been around $380.
“While we experienced colder-than-normal temperatures late in the winter season, overall last winter brought fairly normal weather to our area. In the event we experience normal winter weather this heating season, coupled with stable gas prices, customers should see a decrease in their bills,” said Richard Leger, vice president of Natural Gas Distribution, Indiana and Ohio.
The Energy Information Administration continues to recognize natural gas as the most affordable heating source, according to a report issued today. In fact, Vectren gas customers who heated their homes with natural gas last year saved up to $740 compared to those who heat with propane.
It is important to remember bills will vary by customer depending on the size and age of the home, the number of gas appliances, number in the household, thermostat settings, and levels of insulation. Customers are encouraged to still implement energy efficiency measures and find ways to use less natural gas to lower bills even further.
Vectren has in place a number of tools to help customers manage their energy bills.
Energy efficiency resources – Vectren offers appliance rebates and energy-saving tools to help customers lower their natural gas bills. All Indiana residential and small commercial natural gas customers are eligible. Visit www.vectren.com or call 1-866-240-8476 for a list of rebates, qualifying appliances and energy efficiency tips.
Budget Bill: Under this billing plan, a customer’s estimated costs for a year of gas service are spread in equal monthly bill amounts for the year. This leveling of monthly bill amounts reduces the need to pay the full amount in the winter and spreads some of those higher bill charges into the non-heating months. Amounts are adjusted each summer for actual costs, and the customer’s credit or amount due rolls into the next Budget Bill payment for the next 12-month period. A mid-winter recalculation may occur for some customers if gas costs significantly change during the heating season. Customers can enroll for free at www.vectren.com or by calling 1-800-227-1376.
Energy Assistance Program (EAP): State and federal utility assistance dollars are available for income-eligible customers. Those that fall within 60 percent of state median income should visit their local community action agency to sign up for the EAP. To apply for the EAP, customers should call 1-800-872-0371 to locate their nearest community action agency. Community action agencies will begin taking applications for all energy assistance programs on Nov.
Universal Service Program (USP): All eligible natural gas heating customers who apply and qualify for EAP will automatically be enrolled in the Universal Service Program (USP), which provides additional gas bill reductions that range from 15 to 32 percent of the total bill received (not including EAP benefits) in the months of December through May. The USP, which has been in place since 2005 is the result of a collaborative effort by Vectren, Citizens Energy Group, the Indiana Office of Utility Consumer Counselor, Citizens Action Coalition and a group representing industrial customers. The program provides about $1.5 million in assistance each year to roughly 18,000 Vectren Indiana customers, including crisis assistance dollars, which target qualified low-income and working-poor households that need additional help to get reconnected and/or maintain heat throughout the upcoming winter.
Share the Warmth: Those wanting to help the less fortunate with their energy bills can contribute to Share the Warmth, a nonprofit organization that assists income-eligible customers with home weatherization services. Each year, Vectren matches all public donations, up to an annual total of $225,000. Donations may be tax-deductible and can be sent to Share the Warmth, P.O. Box 931, Evansville, IN 47706-0931 or visit www.sharethewarmthinc.com. Customers who pay their bills atVectren.com may donate through a bill round-up feature. In 2018, more than 130,000 customers across all Vectren territories used this feature to direct donations to Share the Warmth. This option contributed nearly $133,000, which was matched by Vectren.
“If customers are experiencing financial hardship and get behind on payments or are in need of financial assistance, there are several options to help manage costs and we encourage them to make contact,” said Leger. “Local community action agencies can further provide assistance and customers should call today and apply for financial and/or home weatherization assistance if needed.”
Vectren utilities are not allowed to markup, nor profit, from the purchase and sale of natural gas. Only gas costs actually incurred and approved by the Indiana Utility Regulatory Commission are recovered from customers.
Natural gas is a commodity bought and sold in a national deregulated market and prices fluctuate daily due to supply and demand pressures. Vectren purchases natural gas on behalf of its customers and then passes those costs on to customers through the gas cost adjustment, which is listed on the Vectren bill as “Gas Cost Charge.”
Vectren South delivers natural gas to approximately 110,000 customers in Daviess, Gibson, Knox, Martin, Pike, Posey, Spencer, Vanderburgh and Warrick counties.
About CenterPoint Energy
Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy business footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma, and Texas. CenterPoint Energy’s competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability, and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.8 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and nearly $34 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.