.SDGE Customers to see February bills as much as halved from record high January prices due to 'steep decline in the cost of natural gas.'
SAN DIEGO – The average San Diego Gas & Electic customer’s bills are likely to be cut significantly — some even halved — in February due to a steep decline in the cost of natural gas, it was announced Tuesday.
What this means for the typical residential customer is a gas bill — comprised of the commodity cost plus delivery charges and other mandated fees and taxes — is expected to decrease to about $110 in February, from about $225 in January, according to a statement from the utility. High natural gas demand caused by cold weather, coupled with the partial closure of a major third-party pipeline that provides gas to the west and limited gas storage in California, has caused the extreme volatility in gas prices. Natural gas is not just used for heating and cooking, it’s also used to generate 40% of the country’s electricity.
SDG&E leaders said they do not charge any markup for natural gas — if the utility pays $1 for natural gas in the commodity market, that’s what customers pay. SDG&E began alerting customers about rising gas prices and anticipated rate changes in October so they could be better prepared.
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