CenterPoint Energy cuts natural gas bills

12:31 PM CST on Tuesday, February 1, 2005

From 11 News Staff Reports

CenterPoint Energy filed with the City of Houston and the Texas Railroad Commission to decrease the gas cost adjustment portion of the bill as a result of lower wholesale natural gas prices.

This particular natural gas cost adjustment covers the City of Houston. A similar adjustment will also take effect in other incorporated cities around Houston.

The gas cost adjustment is an allowed adjustment to the gas supply charge portion of CenterPoint Energy’s natural gas bill. The adjustment reflects the fluctuations in the price CenterPoint Energy pays in the marketplace for natural gas. The company passes on the costs of the natural gas directly to customers without any markup.

The filing will lower the average City of Houston residential winter gas bill using 100 Ccf (hundred cubic feet) of natural gas by 17.04 percent. This means a bill that was $120.54 will now be $100.00.

“The price we pay to purchase natural gas has continued to drop in the last several months,” said Georgianna Nichols, president of Houston Gas Operations for CenterPoint Energy. “This is a good time to pass along savings to our customers since gas usage is higher at this time of year due to heating needs.”