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On June 29, 2007, the Connecticut Department of Public Utility Control issued its final decision regarding the application of Yankee Gas Services Company for a rate increase, which the company filed on December 29, 2006. Yankee’s application proposed to recover additional revenues needed for the liquefied natural gas facility in Waterbury, Conn., and the increased costs of providing distribution services.
Overall, the Department’s decision approves with some limited changes the settlement reached on May 16, 2007, between Yankee Gas, the Office of Consumer Counsel and the Prosecutorial designees of the Department. It strikes an appropriate balance between ratepayers’ and shareholders’ interests. It provides ratepayers mitigated cost increases, improved system reliability and assurance that the rate increase is reasonable.
The distribution component of customer bills will increase by about 35% with this rate increase being applied across-the-board to all distribution components of rates, which are customer charge, per Ccf charge(s), demand meter charge, demand charge and merchant charge. This increase is expected to be offset by the lower cost of gas supply. This across-the-board change will be for all firm and seasonal rate customers beginning with service on and after July 1, 2007.
Rate Classes
There are three rate classifications for commercial & industrial (C&I) firm service customers - Small General Firm Service (Rate 10), Medium General Firm Service (Rate 20) and Large General Firm Service (Rate 30). These rate structures not only take into account the volume used, but also individual customer peak demands - or what is required by Yankee's distribution system to serve C&I customers. The charge for the customer peak demand is reflected in the Demand Charge on your bill. Customers who use more than 5,000 Ccf of natural gas per year are required to have a telemetering device, or METSCAN (PDF:34KB). TThe METSCAN is an electronic device that attaches to the top, or within three feet, of a meter and measures your daily gas usage. Customers with a METSCAN are able to access their daily natural gas usage through Yankee's Web site, www.yankeegas.com. FFor some, this information can help them better manage their energy needs, which can reduce their annual energy costs. For customers who use less than 5,000 Ccf per year, the METSCAN is optional. Under the current rates, all customers who have a telemetering device are charged a monthly fee of $24.09.
All commercial and industrial customers have the option of buying their gas commodity from a third party supplier. Customers electing third party supply are not billed the Commodity and Fuel Charges.
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