CenterPoint Energy (NYSE:CNP) is decreasing the gas supply rate (GSR) portion of Oklahoma customers' natural gas bills beginning with this month's natural gas bill due to falling natural gas prices.
The adjustment will lower a November Oklahoma residential gas bill using 90 Ccf (hundred cubic feet) of natural gas by about 22 percent compared to last year. This means a bill that was $89.24 last November will be$69.49 this month. Actual bills will vary depending on how much natural gas individual customers use.
This is the second natural gas cost decrease the company has passed on to customers this year. The first was a 15 percent decrease in April bills compared to April 2014. CenterPoint Energy passes on the cost of natural gas through the GSR with no markup.
"The price we pay to purchase natural gas for our customers' use has continued to drop in the last several months and these affordable prices make natural gas a smart choice for the home, the budget and the environment," said Walter Bryant, vice president of Gas Operations in Oklahoma. "This is great news for our customers as we go into the heating season and the upcoming holidays when families entertain and cook more in their natural-gas fueled kitchens. We're happy to be passing another decrease in our natural gas supply costs on to them."