Evansville – Oct. 11, 2023 – CenterPoint Energy's Indiana South natural gas territory today announced customers should expect a more than 20% decrease in their natural gas bills when compared to those of last winter, assuming normal winter weather, due primarily to stabilization of the natural gas market. Last winter season, higher and more volatile natural gas prices impacted utilities across the state and country. Decreased and stable natural gas prices should assist customers' bill amounts to remain lower this heating season.
- Expected decrease in natural gas bills primarily driven by lower, stable natural gas prices
- Company purchases natural gas on behalf of its customers, does not mark up or profit from the purchase and sale of natural gas
- As heating season begins, company encourages customers to utilize assistance programs, various payment options, energy-saving tips and energy efficiency programs
This year, based upon expected natural gas commodity costs and normal winter weather, customers can expect to pay on average $115 a month, over the 5-month heating season of November through March. By comparison, last year's average bill amount for the 5-month period was around $150 a month.
“With the decrease in natural gas prices, assuming our region experiences normal weather this heating season, customers should expect a notable decrease in their bills compared to last season," said Ashley Babcock, Vice President, Indiana and Ohio Gas. “However, we recognize some customers might still face financial hardship this heating season, and we want to encourage them to contact us for options to assist in managing costs prior to their first bill of the heating season."
CenterPoint Energy utilities are not allowed to markup, nor profit, from the purchase and sale of natural gas. Natural gas is a commodity bought and sold in a national deregulated market where prices fluctuate daily due to supply and demand.
Only gas costs actually incurred and approved by the Indiana Utility Regulatory Commission are recovered from customers. CenterPoint Energy 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 bill as “Gas Cost Charge."
Natural gas continues to be the most affordable heating source. In fact, CenterPoint Energy gas customers who heated their homes with natural gas last year saved up to $757 compared to those who heated their homes with propane.
It is important to remember 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. Customers are encouraged to take advantage of CenterPoint Energy's array of payment assistance options as well as energy-saving tips and energy efficiency programs to help mitigate the impact on bills.
CenterPoint Energy has in place several tools to help customers manage their energy bills.
- Energy Assistance Program (EAP): State and federal utility assistance dollars are available for income-eligible customers. Those that fall within 60 percent of state median income 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. Customers may also apply any time at the Indiana Housing and Community Development Authority website at www.EAP.ihcda.in.gov.
- Universal Service Program (USP): All eligible natural gas heating customers who apply and qualify for EAP will automatically be enrolled in the 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 CenterPoint Energy, Citizens Energy Group, the Indiana Office of Utility Consumer Counselor, Citizens Action Coalition and a group representing industrial customers.
- Due Date Extension and Payment Arrangement: These are two free offerings available to customers in need of a special payment plan to temporarily keep their service connected and better manage energy costs.
- Energy Efficiency Resources: CenterPoint Energy offers energy efficiency tips, 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 www.centerpointenergy.com/smartsavings or call 1-866-240-8476 for a list of rebates, qualifying appliances and energy efficiency tips.
- Budget Bill: Under this billing plan, a customer's estimated costs for a year of gas service are spread in equal monthly bill amounts for the year. This leveling of monthly bill amounts reduces the need to pay the full amount in the winter and spreads some of those higher bill charges into the non-heating months. Amounts are adjusted each summer for actual costs, and the customer's credit or amount due rolls into the next Budget Bill payment for the next 12-month period. Customers can enroll for free on www.centerpointenergy.com or by calling 1-800-227-1376.
CenterPoint will continue to seek out opportunities to provide all customers with access to the tools and services needed to manage bills, with plans for Access to Service Fairs to again be held, in partnership with the City of Evansville, later in the heating season. Company representatives will be onsite to speak with customers and provide resources. Customers needing further financial assistance are also encouraged to apply for programs available through local community action agencies and local non-profits.
CenterPoint Energy's Indiana South territory delivers natural gas to approximately 114,000 customers in Daviess, Gibson, Knox, Martin, Pike, Posey, Spencer, Vanderburgh and Warrick counties.
