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Oct. 6, 2015
FOR IMMEDIATE RELEASE
Media contact: Natalie Hedde, (812) 491-5105, [email protected]
News Release
Vectren Corporation One Vectren Square Evansville, IN 47708
Winter natural gas bills projected lower
Evansville, Ind. - Today, Vectren Energy Delivery of Indiana - South (Vectren) announced that customers could see significantly lower natural gas bills than last winter, assuming normal winter weather year-over-year, thanks to continued low, stable natural gas prices. Decreases could be more than 20 percent.
This year, based upon expected natural gas commodity costs and normal winter weather, customers can expect to pay around $350 over the five-month heating season of November through March based on the average household consumption of approximately 580 therms. By comparison, last year's average bill amount for the 5-month period, had weather been normal would have been around $440 for the average customer. However, last winter was about
6.5 percent colder than normal, which drove bills modestly higher than projections. Bills will vary by customer depending on the size and age of the home, number of gas appliances, number in the household, thermostat settings and levels of insulation.
'It is good news for customers that projections are showing decreases in winter bills,' said Brad Ellsworth, president of Vectren Energy Delivery of Indiana - South. 'Although the market points to continued low, stable natural gas pricing for years to come, customers should still implement energy efficiency measures and find ways to use less natural gas to lower bills even further,' added Ellsworth.
Vectren has in place a number of tools to help customers manage their energy bills.
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Energy efficiency resources - Vectren offers appliance rebates and energy-saving tools to help customers lower their natural gas bills. All Indiana residential and small commercial natural gas customers are eligible. Visit Vectren.com/conservation or call 1-866-240-8476 for a list of rebates, qualifying appliances and energy efficiency tips.
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Energy Assistance Program (EAP): State and federal utility assistance dollars are available for income-eligible customers. Those that fall within 150 percent of federal poverty guidelines should visit their local community action agency to sign up for the EAP. To apply for the EAP, customers should call 1-800-872-0371 to locate their nearest community action agency.
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Universal Service Program (USP): All eligible natural gas heating customers who apply and qualify for EAP will automatically be enrolled in the Universal Service Program (USP), which provides additional gas bill reductions that range from 15 to 32 percent of the total bill received (not including EAP benefits) in the months of December through May. The USP, which has been in place since 2005 is the result of a collaborative effort by Vectren, Citizens Energy Group, the Indiana Office of Utility Consumer Counselor, Citizens Action Coalition and a group representing industrial customers. The program provides about $5 million in assistance each year to roughly 25,000 Vectren Indiana customers, including crisis assistance dollars, which target qualified low-income and working-poor households that need additional help to get reconnected and/or maintain heat throughout the upcoming winter.
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Share the Warmth: Those wanting to help the less fortunate with their energy bills can contribute to Share the Warmth, a nonprofit organization that assists income-eligible customers with home weatherization services. Each year, Vectren matches all public donations, up to an annual total of $200,000. Donations may be tax-deductible
and can be sent to Share the Warmth, P.O. Box 931, Evansville, IN 47706-0931 or visit www.sharethewarmthinc.com.
'Customers in need of financial assistance are encouraged to reach out to us before they get behind on payments, as there are several options to help customers manage costs' said Ellsworth. 'Furthermore, customers should contact their local community action agency today and apply for financial and/or home weatherization assistance.'
Natural gas is a commodity bought and sold in a national deregulated market and prices fluctuate daily due to supply and demand pressures. Vectren purchases natural gas on behalf of its customers and then passes those costs on to customers through the gas cost adjustment, which is listed on the Vectren bill as 'Gas Cost Charge.' Vectren utilities are not allowed to mark up nor profit from the purchase and sale of natural gas. Only gas costs actually incurred and approved by the Indiana Utility Regulatory Commission are recovered from customers.
Vectren South delivers natural gas to approximately 110,000 natural gas customers in Daviess, Gibson, Knox, Martin, Pike, Posey, Spencer, Vanderburgh and Warrick counties.
About Vectren
Vectren Corporation (NYSE: VVC) is an energy holding company headquartered in Evansville, Ind. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than 1 million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include infrastructure services and energy services. To learn more about Vectren, visit www.vectren.com.
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