CHARLESTON, W.Va. (WBOY) — Customers of Mountaineer Gas are expected to see rates increase by 15%, and Hope Gas—formerly known as Dominion Energy—will see an increase of 28%, which are actually lower than requested.
According to a release from the Public Service Commission of West Virginia sent Monday, the originally requested prices by the gas companies were an increase of 38% and 62%, but the PSC granted much lower interim purchased gas costs (PGC). The PGC is an annual rate set by the PSC that keeps gas companies accountable for keeping prices reasonable based on market costs.
Even with the lower PGCs, an average family who uses gas heat will see an increase of about $22 per month for Mountaineer Gas and about $38 per month for Hope Gas this winter.
However, according to the PSC, those rate increases are based on PGC, not including any profit for the gas companies. The rates released by the PSC on Monday are also interim rates meaning that further adjustments could be made before final rates are set.
According to the PSC, the rate increases by Mountaineer and Hope Gas will affect approximately 89% of utility natural gas customers in West Virginia.