DTE Energy customers see natural gas prices fall for fourth consecutive month
Another bill reduction announced as gas prices continue their fall and DTE passes savings directly to customers; price down more than 20 percent since October
DETROIT, Jan. 30, 2020 (GLOBE NEWSWIRE) -- DTE Energy’s natural gas customers are seeing milder heating bills this season as the cost of natural gas continues to fall. For the fourth consecutive month, DTE is passing those savings on to its customers through the monthly gas cost recovery (GCR) charge, to help customers better manage their budgets through the winter.
With this latest reduction, DTE has cut the price GCR customers pay for natural gas by 60 cents, or 20 percent, since October 2019. The new rate will be set at $2.20 per 1,000 cubic feet of natural gas. This is the lowest price customers have seen in the past 10 years, and comes during the months when natural gas usage is typically at its highest.
As a regulated energy company, DTE passes its cost for natural gas on to customers with zero markup, meaning customers benefit directly when the price of natural gas falls.
“Keeping energy costs affordable for our customers, especially during the winter, is one of our top priorities,” said Dan Brudzynski, vice president of Gas Sales & Supply, DTE Gas. “When our natural gas costs come down, we pass these savings directly to our GCR customers, which results in lower winter energy bills.”
These price reductions are automatically reflected on customer bills issued beginning Feb. 1, but only for those customers who purchase their gas from DTE. Customers who participate in the gas choice program and have enrolled with an alternative gas supplier will continue to pay their contracted rate and will not see savings from this reduction.
DTE remains responsible for reading meters and printing bills, maintaining a safe and reliable natural gas distribution system and responding to emergencies. However, customers enrolled with an alternative gas supplier purchase the actual gas they use each month from that company at an unregulated rate.
“We recommend that all consumers regularly examine their bill and review their costs for natural gas no matter who their provider is,” said Brudzynski. “The Michigan Public Service Commission’s (MPSC) website is an excellent resource for customers to see how the price they pay compares to DTE and other providers.”
The MPSC’s price comparison tool is available at Michigan.gov/CompareMIGas. For more information about how DTE’s prices are set, visit dteenergy.com/price.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce while keeping it safe, reliable and affordable. DTE Electric aspires to achieve net zero carbon by 2050. DTE is committed to through volunteerism, education and employment initiatives, and economic progress. Information about DTE is available at , , and .
Brian Smith DTE Energy 313.235.5555
