CORNING, N.Y. (WETM) — Corning Natural Gas Corporation (CNGC) announced that its customers will see a significant drop in prices.
“With wholesale gas costs falling, CNGC has reacted quickly to reduce its charges to customers,” said CNGC President Michael I. German.
Effective June 1, CNGC customers will be charged about 68% less for their gas supply. Gas bills are comprised of a supply charge and a delivery charge. The delivery charge is determined by New York State Public Service Commission and covers the costs of installing, upgrading, and maintaining gas infrastructure. The supply charge reflects the purchase price of natural gas. The delivery charge will remain the same.
CNGC customers will see this change reflected in their July bills. According to CNGC, customers should expect to see a decrease of about 27% in their next bill.