Natural Gas News

Residents could see almost $100 annual gas bill expansion if state OKs estimate hike.

Residents could see almost $100 annual gas bill expansion if state OKs estimate hike.

If the state passes a request Virginia Natural Gas submitted last week, residents and business owners in the Historic Triangle could pay about $95 more per year on their gas bill.Virginia Natural Gas sent a request to the State Corporation Commission Friday, March 31 for a general rate increase, which could impact its 293,000 customers in its 15 localities throughout southern Virginia.“While the SCC considers our request, our proposed rates will take effect in September, subject to final review and approval which could occur in the first part of 2018,” Duane Bourne, the company’s spokesperson said Tuesday. “For a typical residential customer, our request will increase their natural gas bill by an average of $8 per month.”The impact on typical Virginia Natural Gas customers is based on the annual consumption of 571 hundred cubic feet of natural gas, according to its application to the SCC.Bourne said the company’s last rate increase was in 2011 and that they have increased less than the rate of inflation inflation since 2012.This increase would give Virginia Natural Gas about a $30 million increase in annual revenue.The company’s president James Kibler said the rate increase request reflects the business’s ongoing efforts to improve safety and reliability of its system to meet its customers’ demand, as well as a change in its operation costs in a testimony to the SCC.The operating cost changes include growing its workforce, focusing on training and development, according to the testimony.“If approved, our request also allows the company to address the costs of meeting increasingly stringent state and federal safety and operational compliance standards,” Bourne said.

Other News You May Interested

Trend Update

Trend Update... read more ...

Gold holds constant near 3-1/2 month high

Trump's economic policy  Investors were looking ahead to an address by Trump to Congress next week for further clarity on his economic pol... read more ...

Silver Stocks Severely Undervalued

Silver acts as an inflation hedge, and in times of crisis, small quantities may be used for smaller, daily transactions compared to holding a tradi... read more ...

Gold hits 4-month high, top Rs325 on substantial global cues.

Gold prices soared by Rs325 to regain the Rs30,000-mark and trade at over 4-month high of Rs30,175 per 10 grams at Delhi bullion market on Saturday... read more ...

BULLION: The Prized metals, gold and silver snapped

its three-week gains at the bullion market, on reduced offtake due to holiday-truncated week despite firm global trend.Marketmen said easing demand... read more ...

Crude oil slips nearly 1 percent on Care over rising U.S. output

Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.

But... read more ...

Natural Gas Shortened-Term Storhouse Outlook.

The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week endi... read more ...

Silver Price Equal Off with Notable Support

Silver Price Equal Off with Notable Support

See the Webinar Calendar for a schedule of upcoming live events with Paul or... read more ...

Gold holds around 3-1/2 month high Trumps economic policy in target.

BENGALURU, FEB 27:  
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor... read more ...