The West Virginia Public Service Commission announced that customers will benefit from a decrease in the purchased gas portion of natural gas utilities’ rates, according to an Oct. 9 press release. The annual adjustment is an estimate of the prices utilities would pay for gas from November through October of the following year and a true-up of actual costs incurred in the prior year. Prices are determined by competitive markets and gas utilities are authorized to recover the costs of gas purchase. The commission does not regulate prices but examines purchasing practices to ensure reliable supply at the lowest market price. Mountaineer Gas Company, Hope Gas/Dominion Energy, Peoples Gas, and Lumberport-Shinnston Gas will cut rates by 3.95 percent, 5.66 percent, 6.33 percent, and 5.84 percent, respectively. The lower interim rates go into effect Nov. 1, and final rates will be set early next year.
