JACKSON — Consumers Energy will lower natural gas fuel costs by 15 percent effective April 1, as the company delivers on its promise to provide the best energy value to Michigan families and businesses.
“We are moving forward with our plan to provide our gas customers with savings. Consumers Energy has reduced natural gas costs since February 2012 by 26 percent, which is projected to save our customers about $200 million over the next year. This is the largest price reduction in recent company history and it’s helping Michigan families and businesses,” said Tim Sparks, vice president of energy supply operations.
A typical Michigan family saved about $150 as a result of Consumers Energy’s efforts to reduce gas fuel costs over the past year. Annual savings for businesses and manufacturers can be thousands of dollars due to larger volumes of gas used in their operations.
Sparks added that “prices charged by Consumers Energy for natural gas are the lowest they’ve been in a decade — since 2003 — and we are pursuing future savings. This is a positive signpost for Michigan’s economy and the communities we serve.”
Consumers Energy will conduct a webinar for business customers on April 17 on saving money through lower natural gas prices. Registration for the webinar is free and available at: www.ConsumersEnergy.com/content.aspx?id=6087
Consumers Energy officials said the company can take advantage of lower-priced natural gas now available in the U.S. because of the company’s massive storage system. The the company can purchase gas when it’s lower priced in warmer months, thereby avoiding the higher-priced spot market in winter months.
Sparks said Consumers Energy continues to invest in its natural gas infrastructure to take advantage of lower-cost supplies, benefiting customers now and in the future. Projects include expansion and updating of gas compressor stations and replacement of natural gas pipelines. The company delivers natural gas to 1.7 million customers in 45 counties in Michigan’s Lower Peninsula.