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For more information on any of the
Intermountain Gas Press Releases contact: Mike
Huntington (208) 377-6059 |
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News Release |
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August 17, 2006 |
Contact:
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Mike Huntington
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Vice President
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Marketing & External Affairs
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(208) 377-6059
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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 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
PRICE. IN ITS APPLICATION, INTERMOUNTAIN REQUESTS
PERMISSION TO ADJUST ITS PRICES TO REFLECT THE PRICES OF
NATURAL GAS SUPPLIES THAT IT EXPECTS TO INCUR.
WILLIAM C. “BILL” GLYNN, PRESIDENT OF INTERMOUNTAIN GAS
COMPANY, SAID, “DESPITE INCREASES IN SOME OTHER ENERGY
PRICES LIKE CRUDE OIL THAT HAS INCREASED 30% DURING THE
PAST YEAR, THE COMPANY EXPECTS TO BE ABLE TO MANAGE ITS
NATURAL GAS PURCHASES SUCH THAT IT WILL NOT NEED TO
RAISE CUSTOMER PRICES FOR THIS NEXT WINTER SEASON.”
COMMENTING FURTHER GLYNN SAID, “THE FORCES BEHIND THIS
EXPECTATION INCLUDE THE INCREASE IN NATURAL GAS
PRODUCTION RESULTING FROM ADDITIONAL DRILLING, THE
RETURN OF GULF COAST PRODUCTION WHICH WAS SHUT-IN FROM
HURRICANE KATRINA, AND PURCHASING AND PRICING STRATEGIES
THE COMPANY HAS EMPLOYED, INCLUDING THE USE OF
SIGNIFICANT SUMMER STORAGE INJECTIONS FOR WINTER
DELIVERIES.”
GLYNN, HOWEVER, WENT ON TO SAY, “WE ARE PLEASED TO BE
ABLE TO OFFER THIS ADDITIONAL PRICE STABILITY, HOWEVER,
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 PAYMENT ENERGY ASSISTANCE ARE PROVIDED
THROUGH BILL INSERTS AND ON THE COMPANY’S WEBSITE (WWW.INTGAS.COM).
WE ALSO HAVE A NUMBER OF PROGRAMS TO HELP OUR CUSTOMERS
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.”
IF APPROVED AS FILED, ALL RESIDENTIAL AND COMMERCIAL
CUSTOMER’S UNIT PRICES WILL BE ESSENTIALLY UNCHANGED FOR
NATURAL GAS USED THIS NEXT YEAR AND THE COMPANY’S TOTAL
NET REVENUE WILL DECREASE BY APPROXIMATELY $1.6 MILLION
(.5%). THE PROPOSED EFFECTIVE DATE IS OCTOBER 1, 2006.
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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