Delmarva Power has asked state regulators to reduce the natural gas rate, so it can pass on those savings to its customers.
According to the utility, the monthly bill for the average residential gas customer would drop 14.4 percent, decreasing from $165.61 to $141.82, a $23.79 savings. The price adjustment is scheduled to take effect Nov. 1.
Delmarva Power says the proposed rate decrease is a result of lower market costs for the gas. The request was included in the company’s annual gas cost rate filing. Each year around this time, the utility files to reflect the spikes and dips in the natural gas market. This latest request marks the second straight decrease; in November 2011, there was a 3.7 percent reduction.
The rate changes are subject to review and approval by the Delaware Public Service Commission.