NATIONAL FUEL GAS COMPANY 6363 Main Street, Williamsville, N.Y. 14221
1-800-634-5440 | www.nationalfuelgas.com
Media inquiries please contact:
Karen L. Merkel, 716-857-7654
National Fuel's Winter Heating Season Forecast is One Customers will Be GLAD to Hear: Winter Heating Season Bills will be the Lowest in 14 Years(Oct. 1, 2015) WILLIAMSVILLE, N.Y. - National Fuel Gas Distribution Corporation (referred to as National Fuel or the Utility) has a winter forecast that its customers will be glad to hear: Natural gas prices are low and look to stay that way, which translates to the lowest winter heating season customer bills this century - since 2001-02.
Based on the current forecast for the months of November through March, which National Fuel defines as the winter heating season, an average residential heating customer will see approximate savings of 28.6 percent from last year as the 5-month average bill is slated to be $453.47. Compared to last winter, which started with Snovember and continued through the end of March and featured weather that was 13 percent colder than normal, the winter heating season bill averaged $635.42.
Much of the lower energy price can be attributed to the continued rise in domestic natural gas production from the shale plays in Pennsylvania. Nearly 100 percent of the natural gas used currently by National Fuel's customers is hydraulically fractured and produced in the Northeast. National Fuel's geographic proximity to pipeline capacity and natural gas production provides an advantage to its customers.
Gas storage helps to put a lid on winter price spikes as well. Through National Fuel's cost- conscious gas procurement processes and the use of underground gas storage, nearly half of the natural gas that will be used this winter was purchased in the summer months when prices on the New York Mercantile Exchange ranged from $1.14 to $1.65 with Pennsylvania shale production generally selling at a discount of greater than $1 below those prices.
'It's a good time to heat with natural gas,' said Karen L. Merkel, spokesperson for National Fuel. 'While we certainly can never predict the weather, if we have more of a typical Western New York winter, our customers will see substantial savings through this coming winter heating season and maybe have a little extra in their pockets come April.'
The Utility has a variety of natural gas supply sources and uses a combination of proven methods that favorably adjust purchase pricing including forward pricing, monthly pricing and daily pricing that provides tremendous flexibility. Transportation services with a diverse set of contractual and pricing arrangements allows National Fuel's gas supply management team to purchase natural gas at the best available market price.
'If our forecast is accurate, we expect that customers will see the lowest winter heating season bill since the winter of 2001-02 when the season bill averaged $567.48,' Merkel said.
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While lower bills are certainly good news for its customers, National Fuel officials realize that some people will be payment challenged. Numerous programs are available to help individuals who struggle to make their payments, and the Utility encourages its customers to contact a customer assistance representative to discuss their personal situation. For customers who want to have level, predictable month gas payments this winter, National Fuel suggests budget plan billing as a way to stabilize monthly heating bills. Information is available on the Utility's website at www.nationalfuelgas.com.
The Home Energy Assistance Program (HEAP) opens in mid-November, contingent on available federal monies. This program accepts applications based on income guidelines and funds are distributed on a first-come, first-served basis. For additional information, visit www.HEAPhelps.com or contact 1-877-443-2743.
A quick call to customer service can provide information on the following programs: Neighbor For Neighbor Heat Fund is open year round and helps qualified customers, aged 55 years or older, or have a certified medical condition, or are disabled, or are currently receiving unemployment benefits to prevent an energy emergency; Low-Income Customer Affordability Assistance Program offers stable bills, reduced rates and debt forgiveness; a Deferred Payment Agreement allows the potential to negotiate a repayment plan in the event of a problem or special circumstance; Special Protections is applicable for households where all residents are aged 62 years or older, 18 years or younger, blind or disabled.
As well, National Fuel's Conservation Incentive Program offers rebates for high efficiency natural gas equipment and free weatherization services for income-eligible customers, both producing substantial savings in heating bills over the long-term. Energy savings tips are listed within the Utility's Conservation Incentive Program website at www.nationalfuelforthought.com to help customers manage their energy usage and bills during the cold winter weather.
National Fuel Gas Distribution Corporation is the Utility segment of National Fuel Gas Company, a diversified energy company that is engaged in a number of natural gas-related activities. The Utility provides natural gas service to approximately 738,000 customers in Western New York and northwestern Pennsylvania. To learn more about natural gas safety, visit www.NationalFuelGas.com.
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