Customers Columbia Gas of Kentucky will be getting a partial break on their bills for the rest of the winter. The utility reported Tuesday that it has received approval from the Kentucky Public Service Commission for its most recent Gas Cost Adjustment.
Effective February 28,2014, Columbia Gas of Kentucky’s supply cost falls to about $5.86 per 1,000 cubic feet. That's a 12/2 percent decrease. The new rate will remain in effect until the next scheduled Gas Cost Adjustment this June.
Columbia Gas typically adjusts prices quarterly to reflect current market conditions. According to a company news release, natural gas distribution companies do not earn a profit on their gas commodity costs and the utilities pass the costs along to customers without markup.
Columbia Gas also points out that a customer’s monthly bill is comprised of two primary components: the gas supply cost and delivery costs, each of which accounts for half of a customer’s monthly bill.
In announcing the PSC approval for the rate decrease, Columbia pointed out that customers may still notice higher than expected bills due to unusually cold weather during January and February.