FPU natural gas rates drop again for March

For the second consecutive month, Fayetteville Public Utilities (FPU) is decreasing residential natural gas rates to $1.12 per ccf (hundred cubic feet). The March decrease is 2 cents lower than February’s rate at $1.14 per ccf. Residential gas rates held at $1.17 per ccf prior to the February 2015 decrease.

Last month, 100 ccf of natural gas was billed at $125.84 including the customer charge. In March, the same amount of gas use will cost consumers $123.94. This is an energy savings to the customer of $1.90.

In recent history, FPU’s natural gas rates were only lower in February 2012 when gas rates were $1.11 per ccf. FPU was able to maintain the $1.11 per ccf rate for local consumers for over two years.

“Several years ago, we put in place local controls to help better manage natural gas cost adjustments that occur on a monthly basis,” Dye explains. “Some of these local controls include purchasing natural gas for storage at the best available market cost in the off-season, and we lock in prices for future months when the market allows. These procedures assist us in offering the best available natural gas rate for our customers.”

“We do not know at this time if gas rates will continue to decline,” says FPU CEO and General Manager Britt Dye. “We stress again that the natural gas market is unpredictable, and with recent changes with supply and demand, coupled with global economic concerns and numerous gas market influences, there is no guarantee of how long these rates will be in effect.”

A complete listing of FPU’s natural gas rates is available on our web site.