At a meeting of Pasadena's Legislative Policy Committee, a Southern California Gas Company (SoCalGas) representative announced that natural gas wholesale prices have dropped significantly since March.
SoCalGas' public affairs manager and liaison to the City of Pasadena, Helen Romero Shaw, said that natural gas prices had come down. They were 80 percent higher in January than they are now in March. Depending on the billing cycle, your constituents, our customers, are likely to see a decline in their gas bills this month. Additionally, Shaw reported that the California Public Utilities Commission approved the accelerated California Climate Credit for SoCalGas customers in response to unusually high gas prices. The move will result in a $50.77 credit for SoCalGas' residential customers. SoCalGas is also delaying any collection activities on overdue residential accounts while natural gas prices remain historically high, Shaw said. “We will not disconnect overdue residential customers until further notice. We will pause all non-residential collection field activities effective February 1st,” said Shaw. Even though natural gas prices have decreased, Pasadenans can reduce their energy costs by taking simple steps, Shaw recommends. Shaw recommends lowering the thermostat by 3-5 degrees, washing clothes in cold water, and reducing the water heater temperature to 120 degrees to save energy. Shaw emphasized that SoCalGas does not profit from the gas price increase. “SoCalGas did not set the price for natural gas, instead natural gas prices are determined by national and regional markets,” Shaw continues to explain that SoCalGas purchases natural gas in those markets for its residential and small business customers. The cost is built with no markup meaning SoCalGas does not profit from the movement of gas commodity prices. According to the National Oceanic and Atmospheric Administration, they predicted a warm winter, but on the west coast, the reverse happened. Despite this, Shaw said SoCalGas continues to inform and offer income-qualified customers several payment options. You can learn more about these programs at https://www.socalgas.com/save-money-and-energy/assistance-programs. |
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