DETROIT, March 1, 2018 /PRNewswire/ -- DTE customers can
expect to see natural gas prices drop in March and again in April –
nearly a 20 percent drop over the March
2017 price. The two-month decrease will mark the fourth
price drop for natural gas in the last thirteen months.
While some parts of the Northeast saw the price of natural gas
skyrocket at the height of this winter's coldest weeks, DTE
customers benefitted from a drop in the price of natural gas over
the same period. The trend will continue with additional drops in
what is known as the "Gas Cost Recovery" (GCR) rate in March and
again in April.
"Though many Michigan residents
saw their heating bills rise during bitter cold periods, compared
to last year's mild winter weather, falling natural gas prices
helped offset the hit to DTE customers' bills," said Dan Brudzynski, vice president of DTE Gas sales
and supply. "By April, rates will be approaching 20 percent
below the cost of gas in March last year."
The GCR rate is a portion of the total bill customers pay. DTE
"passes through" the actual cost for natural gas without a mark-up,
meaning the price DTE pays is what customers pay. DTE expects April
prices, measured in dollars per ccf (100 cubic feet), to be set at
$0.286. The GCR rate will cause
the average total bill to drop about 3 percent for 2018, compared
the 2017 average. With DTE's 2018 forecast, customers will
have seen their average gas bills drop 30 percent over the last 10
years.
DTE pulls from different services across the United States and Canada and buys and stores vast quantities of
low-priced gas in the summer months. This allows DTE to manage the
need for purchasing gas during the winter and offer a more stable
price for natural gas, even at high-use times.
Customers can find more information on how to save energy by
going to www.dteenergy.com/saveenergy . Customers can learn more
about rates here. Michigan
residents also have a choice of their gas supplier and can review
current GCR rates on the Michigan Public Service Commission's
website .
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. DTE is ranked
"Highest in Customer Satisfaction with Business Natural Gas and
Electric Services in the Midwest." Its operating units include an
electric utility serving 2.2 million customers in Southeastern Michigan and a gas utility
serving 1.3 million customers in Michigan. The DTE Energy portfolio includes
non-utility energy businesses focused on power and industrial
projects, 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, empoweringmichigan.com,
twitter.com/dte_energy and facebook.com/dteenergy.
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SOURCE DTE Energy