The Reading-based utility says the decrease is due to a drop in wholesale costs of natural gas.
UGI Utilities Inc. customers are going to see about a 6.3 percent drop in their rate for natural gas starting in December, the Reading-based utility announced this morning.
The utility says in a news release that the decrease is due to lower wholesale natural gas costs. The utility is required by law to pass along the savings to customers, the release states.
As a result of the decrease, the average residential heating customer’s bill will go from $92.36 to $86.55, according to UGI, which attributed the decrease in wholesale costs to the availability of locally produced natural gas culled from Pennsylvania’s Marcellus Shale region.
“We are pleased to offer this cost reduction to our customers as we enter the winter heating season,” UGI Utilities Vice President of Rates Paul Szkman said in the news release. “UGI natural gas prices remain very affordable. Also, many new customers who’ve recently converted to natural gas from other fuels will be seeing extra savings.”