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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 16, 2007 |
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) SEEKING TO DECREASE PRICES TO ITS RESIDENTIAL
AND COMMERCIAL CUSTOMERS. 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 COSTS IT EXPECTS TO INCUR FOR
NATURAL GAS SUPPLIES.
WILLIAM C. BILL GLYNN, PRESIDENT OF INTERMOUNTAIN GAS
COMPANY, SAID, THE SHORT-TERM NATURAL GAS SUPPLY
PICTURE IS STRONG. THIS DECREASE REFLECTS THE DOWNWARD
PRICING PRESSURES ON DOMESTIC SUPPLIES OF NATURAL GAS.
THIS IS DUE, IN PART, TO THE INCREASED NUMBER OF
DRILLING RIGS SEARCHING FOR NEW SUPPLIES AS WELL AS
INCREASED PRODUCTION BOTH FROM NEW WELLS AND BETTER
PRODUCTION TECHNIQUES. COMMENTING FURTHER GLYNN SAID,
INTERMOUNTAIN CONTINUES TO SUPPORT CHANGES TO OUR
NATIONAL ENERGY POLICY THAT PERMIT ADDITIONAL DOMESTIC
ENERGY PRODUCTION BOTH ON AND OFF OUR AMERICAN SHORE. WE
ALSO REMAIN COMMITTED TO MANAGE THE PURCHASING AND
PRICING OF THE RESOURCES WE HAVE SO AS TO PROVIDE THIS
LOW COST ENERGY. THIS EFFORT HAS RESULTED IN US NOT
CHANGING THE UNIT PRICE FOR THE COSTS ASSOCIATED WITH
THE DELIVERY OF NATURAL GAS TO RESIDENTIAL CUSTOMERS FOR
OVER 25 YEARS.
GLYNN WENT ON TO SAY, WE ARE PLEASED TO BE ABLE TO
OFFER TO OUR RESIDENTIAL AND COMMERCIAL CUSTOMERS THIS
DECREASE, HOWEVER, INTERMOUNTAIN CONTINUES TO URGE ALL
ITS CUSTOMERS TO BE CONSCIOUS OF THEIR ENERGY USAGE AND
USE ALL ENERGY WISELY. HELPFUL TIPS ON ENERGY
CONSERVATION AND GOVERNMENT ENERGY-PAYMENT ASSISTANCE
ARE PROVIDED THROUGH BILL INSERTS, AS WELL AS ON THE
COMPANYS 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 THIS PROPOSED ADJUSTMENT IS APPROVED, RESIDENTIAL
CUSTOMERS USING NATURAL GAS FOR HEATING AND WATER
HEATING COULD EXPERIENCE A $6.00 DECREASE (8.1%) ON AN
AVERAGE MONTHLY BILL. THOSE RESIDENTIAL CUSTOMERS USING
NATURAL GAS FOR SPACE HEATING ONLY COULD EXPERIENCE A
$4.00 DECREASE (7.5%) ON THEIR MONTHLY BILL. COMMERCIAL
BUSINESS CUSTOMERS COULD REALIZE AN AVERAGE MONTHLY BILL
DECREASE OF $29.00 (8.7%). INDUSTRIAL CUSTOMERS WHO ONLY
USE INTERMOUNTAINS DELIVERY SERVICE, BUT DO NOT
PURCHASE THEIR NATURAL GAS FROM THE COMPANY, WILL
EXPERIENCE AN AVERAGE INCREASE OF 9.5% OR $0.004 PER
THERM DELIVERED.
IF APPROVED AS FILED, THE COMPANYS TOTAL NET REVENUE
WILL DECREASE BY APPROXIMATELY $25.4 MILLION (7.7%). THE
PROPOSED EFFECTIVE DATE IS OCTOBER 1, 2007. THIS
PROPOSAL IS SUBJECT TO PUBLIC REVIEW AND APPROVAL BY THE
IPUC. A COPY OF INTERMOUNTAINS APPLICATION IS AVAILABLE
AT THE OFFICES OF BOTH THE IDAHO PUBLIC UTILITIES
COMMISSION AND THE COMPANY. |
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