DETROIT, April 13, 2017 /PRNewswire/ -- DTE Energy
customers will see the cost of natural gas drop in their April gas
bills nearly 9 percent, due to the downward trend of natural gas
prices. The company passes any savings it realizes on natural
gas costs directly to its customers.
DTE Energy lowered the gas rate – the market price it pays for
the natural gas its customers use – by 8.8 percent effective
April 1 to $3.23 per thousand cubic feet from $3.54, generating savings for both business and
residential customers.
Natural gas prices have fallen steadily since 2008 as domestic
production increased from newfound sources, and DTE's efforts to
store natural gas when prices are at their lowest has allowed the
company to keep rates low and stable even during high usage months
over the winter.
Over the last 10 years, residential customers' overall natural
gas bills have dropped by 27 percent, or about $300 annually, as the cost for the natural gas
DTE buys has declined. During that 10-year period, DTE Gas
customers have seen declines in natural gas cost every year except
a slight uptick in 2014 caused by the polar vortex.
"We take pride in purchase strategies that effectively manage
the price our customers pay," said Mark
Stiers, DTE Gas president and chief operating officer. "We
charge customers only the price we pay for gas, and when those
costs are lowered, we pass those savings on to our customers."
This season's gas energy costs were roughly comparable to the
2015-2016 winter season, although slightly increased because of
weather. However, when compared to typical winter weather, bills
for the season were lower. Even though the winter heating season is
nearing its end, residential and business customers will continue
to save when they use their gas appliances and equipment.
Customers can find the cost of gas on their bills under the Gas
Cost Recovery (GCR) line item.
DTE uses Michigan's unique
geology to purchase large quantities of natural gas and store it
underground until it is needed, allowing the company to avoid
purchasing gas at higher rates during the winter when demand is at
its peak.
DTE natural gas customers' bills are reflective of three key
variables – the cost of the natural gas used by customers, the
amount of natural gas used and the severity of the weather, which
impacts energy use.
"We continuously work to make our operations more efficient in
an effort to keep energy affordable for our customers," Stiers
said. "Our customers can also better manage their energy bills by
saving energy through a number of our low- and no-cost
energy-efficiency tips."
Customers can find more information on how to save energy by
going to dteenergy.com/saveenergy. To better understand the
components of your bill, watch our new animated bill video at
bit.ly/ReadABill.
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 utility serving 2.2 million customers in Southeastern Michigan and a natural gas
utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes
non-utility energy businesses focused on power and industrial
projects, natural gas pipelines, gathering and storage, and energy
marketing and trading. As one of Michigan's leading corporate citizens, DTE
Energy is a force for growth and prosperity in the 450 Michigan
communities it serves in a variety of ways, including philanthropy,
volunteerism and economic progress. Information about DTE Energy is
available at dteenergy.com, twitter.com/dte_energy and
facebook.com/dteenergy.
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SOURCE DTE Energy