With proposed decrease, customers will pay $270 less annually on heating bills than they were seven years ago
South Burlington, Vermont – Vermont Gas announced today it has asked the Public Utility Commission (Commission) to approve a 3.8% rate reduction beginning in November of this year.
“We made a commitment to keep rates low and stable for our customer and today’s proposal is about helping families and businesses save money and reduce their energy needs,” said Don Rendall, President and CEO of Vermont Gas. “To put this filing into perspective, since 2011 our rates have gone down over 16%. That means that with this proposed reduction, the typical family will pay about $270 less on their heating bills than they were seven years ago. That’s real money back into the pockets of Vermonters.”
“At a time when our family has seen so many cost increases, it’s a welcome relief to see a reduction in our heating bill,” said Fallon Clark, of Colchester. “It truly feels like Vermont Gas is on our side.”
“Natural gas is also one of the cleanest home heating options available,” Rendall continued. “Customers converting to natural gas from fuel oil reduce their carbon emissions by more than 23%. Our award winning efficiency programs can help customers achieve up to 70% carbon reductions. This is a win for our climate and a win for our customers.”
This decrease represents the net of a 14.8% decline in the natural gas charge, a 4% increase in the daily access and distribution charges, and a request to return $8.1 million of the System Expansion and Reliability Fund (“SERF”) back to customers through lower rates. This filing also includes the full benefit of lower federal income tax expense associated with the recently enacted tax laws. Customers have begun to see the benefits of that tax rate reduction in the form of lower energy bills this month.
Today’s rate decrease filing is subject to Commission approval. For more information on the rate decrease, visit VermontGas.com.
About VGS
VGS is a leader in energy efficiency and innovation, offering a clean, safe, affordable choice for over 54,000 homes, businesses, and institutions in Franklin, Chittenden and Addison counties. The company plays an important role in Vermont’s clean energy future by displacing higher-emitting fuels, offering renewable natural gas service, and delivering award-winning energy efficiency programs. VGS is leading the country in the development of local renewable energy generation and has targeted a 30% reduction in greenhouse gas emissions by 2030 and becoming Net Zero by 2050. For more information about Vermont Gas visit www.vgsvt.com
Media Contact
Dylan Giambatista
(802) 391-6475
dgiambatista@vermontgas.com