DTE Energy customers see natural gas prices fall for fourth consecutive month
January 30 2020 - 10:12AM
DTE Energy’s natural gas customers are seeing milder heating bills
this season as the cost of natural gas continues to fall. For the
fourth consecutive month, DTE is passing those savings on to its
customers through the monthly gas cost recovery (GCR) charge, to
help customers better manage their budgets through the winter.
With this latest reduction, DTE has cut the price GCR customers
pay for natural gas by 60 cents, or 20 percent, since October 2019.
The new rate will be set at $2.20 per 1,000 cubic feet of natural
gas. This is the lowest price customers have seen in the past 10
years, and comes during the months when natural gas usage is
typically at its highest.
As a regulated energy company, DTE passes its cost for natural
gas on to customers with zero markup, meaning customers benefit
directly when the price of natural gas falls.
“Keeping energy costs affordable for our customers, especially
during the winter, is one of our top priorities,” said Dan
Brudzynski, vice president of Gas Sales & Supply, DTE
Gas. “When our natural gas costs come down, we pass these savings
directly to our GCR customers, which results in lower winter energy
bills.”
These price reductions are automatically reflected on customer
bills issued beginning Feb. 1, but only for those customers who
purchase their gas from DTE. Customers who participate in the gas
choice program and have enrolled with an alternative gas supplier
will continue to pay their contracted rate and will not see savings
from this reduction.
DTE remains responsible for reading meters and printing bills,
maintaining a safe and reliable natural gas distribution system and
responding to emergencies. However, customers enrolled with an
alternative gas supplier purchase the actual gas they use each
month from that company at an unregulated rate.
“We recommend that all consumers regularly examine their bill
and review their costs for natural gas no matter who their provider
is,” said Brudzynski. “The Michigan Public Service Commission’s
(MPSC) website is an excellent resource for customers to see how
the price they pay compares to DTE and other providers.”
The MPSC’s price comparison tool is available at
Michigan.gov/CompareMIGas. For more information about how DTE’s
prices are set, visit dteenergy.com/price.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy
company involved in the development and management of
energy-related businesses and services nationwide. Its operating
units include an electric company serving 2.2 million customers in
Southeast Michigan and a natural gas company serving 1.3 million
customers in Michigan. The DTE portfolio includes energy businesses
focused on power and industrial projects; renewable natural gas;
natural gas pipelines, gathering and storage; and energy marketing
and trading. As an environmental leader, DTE utility operations
will reduce carbon dioxide and methane emissions by more than 80
percent by 2040 to produce cleaner energy while keeping it safe,
reliable and affordable. DTE Electric aspires to achieve net zero
carbon by 2050. DTE is committed to serving with its energy through
volunteerism, education and employment initiatives, philanthropy
and economic progress. Information about DTE is available at
dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and
facebook.com.
Brian Smith
DTE Energy
313.235.5555
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