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For more information on any of the
Intermountain Gas Press Releases contact:
Brent Wilde (208) 377-6053 |
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News Release |
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August 15, 2008 |
Contact:
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Brent Wilde |
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Director |
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Marketing & Industrial Services |
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(208) 377-6053
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INTERMOUNTAIN GAS COMPANY FILES NATURAL GAS PURCHASED
GAS
COST ADJUSTMENT APPLICATION WITH THE IPUC
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TODAY, INTERMOUNTAIN GAS COMPANY (“INTERMOUNTAIN”) FILED
ITS ANNUAL PURCHASED GAS COST ADJUSTMENT (“PGA”)
APPLICATION WITH THE IDAHO PUBLIC UTILITIES COMMISSION
(“IPUC”). THIS TYPE OF APPLICATION IS FILED EACH YEAR TO
ENSURE THAT THE COSTS THAT INTERMOUNTAIN IS INCURRING ON
BEHALF OF ITS CUSTOMERS ARE PROPERLY REFLECTED IN ITS
SALES PRICES. IN ITS APPLICATION, INTERMOUNTAIN REQUESTS
PERMISSION TO ADJUST ITS PRICES TO REFLECT THE COST OF
NATURAL GAS SUPPLIES THAT IT EXPECTS TO INCUR. THIS
ADJUSTMENT REFLECTS HOW VOLATILE PRICES HAVE BEEN AS
THIS INCREASE FOLLOWS CONSECUTIVE DECREASES AMOUNTING TO
APPROXIMATELY 12% OVER THE PAST TWO YEARS FOR
INTERMOUNTAIN’S RESIDENTIAL HEATING AND WATER HEATING
CUSTOMERS.
WILLIAM C. “BILL” GLYNN, PRESIDENT OF INTERMOUNTAIN GAS
COMPANY, SAID, “THE WORLD WIDE DEMAND FOR ENERGY IS NOW
AT AN ALL TIME HIGH. THIS DEMAND, WHEN COUPLED WITH
CONSTRAINTS BEING PLACED ON THE DRILLING AND PRODUCTION
FOR NEW SUPPLIES, IS DRIVING THE PRICE OF ALL ENERGY TO
RECORD HIGHS. INTERMOUNTAIN CONTINUES TO SUPPORT THE
EFFORTS OF INCREASED DOMESTIC EXPLORATION AND PRODUCTION
AND REDUCTIONS IN THE DELAYS TO BRING PRODUCTION TO
MARKET. PUTTING MORE SUPPLIES IN THE MARKET IS ONE SURE
WAY TO LOWER THE COST. AMERICA HAS VAST RESERVES OF
NATURAL GAS—WE JUST NEED TO GET IT TO MARKET.”
GLYNN WENT ON TO SAY, “ALTHOUGH THE PRICE OF NATURAL GAS
IS HIGHER THIS YEAR, IT STILL IS THE MOST AFFORDABLE
DOMESTIC ENERGY SOURCE TO HEAT YOUR HOME AND WATER.
INTERMOUNTAIN CONTINUES TO URGE ALL ITS CUSTOMERS TO BE
CONSCIOUS OF THEIR ENERGY USAGE AND USE IT WISELY.
HELPFUL TIPS ON WAYS TO DO THAT AND HOW TO REQUEST
GOVERNMENT ENERGY-PAYMENT ASSISTANCE ARE PROVIDED
THROUGH BILL INSERTS AND ON THE COMPANY’S WEBSITE
(WWW.INTGAS.COM). INTERMOUNTAIN ALSO HAS A PROGRAM TO
HELP OUR CUSTOMER’S LEVEL OUT THEIR ENERGY BILLS OVER
THE YEAR, AND STABILIZE THE POTENTIAL IMPACT THAT COLD
WEATHER WILL HAVE DURING PERIODS OF HIGHER NATURAL GAS
USAGE. FOR MORE INFORMATION, LOOK FOR LEVEL PAY ON OUR
WEBSITE.”
IF THIS PROPOSED ADJUSTMENT IS APPROVED, RESIDENTIAL
CUSTOMERS USING NATURAL GAS FOR HEATING AND WATER
HEATING COULD EXPERIENCE AN INCREASE OF $12.30 ON AN
AVERAGE MONTHLY BILL, AN 18% INCREASE PER THERM. THOSE
RESIDENTIAL CUSTOMERS USING NATURAL GAS JUST FOR SPACE
HEATING COULD EXPERIENCE A $7.90 INCREASE ON THEIR
MONTHLY BILL, OR A 15% INCREASE PER THERM. COMMERCIAL
BUSINESS CUSTOMERS COULD REALIZE A $55.30 INCREASE ON
THEIR MONTHLY BILL, WHICH IS AN INCREASE OF 18%.
IF APPROVED AS FILED, THE COMPANY’S TOTAL NET REVENUE
WILL INCREASE BY APPROXIMATELY $54.3 MILLION (18%). THIS
INCREASE WILL ONLY COVER THE INCREASE OF THE COST OF GAS
AND WILL NOT AFFECT THE COMPANY’S PROFIT. THE PROPOSED
EFFECTIVE DATE IS OCTOBER 1, 2008. THIS PROPOSAL IS
SUBJECT TO PUBLIC REVIEW AND APPROVAL BY THE IPUC. A
COPY OF INTERMOUNTAIN’S APPLICATION IS AVAILABLE AT THE
OFFICES OF BOTH THE IDAHO PUBLIC UTILITIES COMMISSION
AND THE COMPANY. |
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