Lowest natural gas costs in 25 years keep energy bills low for LG&E and KU customers
Customers of the Louisville Gas and Electric Company and Kentucky Utilities Company could see their electric and overall bills decrease come May.
Natural gas commodity costs have hit their lowest point in 25 years, which could potentially see LG&E net bills decrease by as much as 8 percent. This is because LG&E only recovers the actual cost of the natural gas that it incurs. Under its current filing with the Kentucky Public Service Commission, which covers May, June, and July, LG&E’s residential natural gas customers’ total bills will be 16 percent lower than they were last year and 8 percent lower than they have been in the last three months.
Those figures are based on an average gas usage of 60 centum cubic feet (CCF) per month.
“This is a much-needed break for our customers who are dealing with the financial impacts of the coronavirus,” Paul Thompson, LG&E and KU chairman, president, and CEO, said. “As a company, we are taking additional steps to help our customers minimize and manage their energy bills and providing support for the communities we serve. The lower natural gas costs will mean more money for our customers during this difficult time.”
For all affected customers, the lower fuel costs should be reflected in the Fuel Adjustment Clause line item on their electric bills.
