Dayton – Oct. 9, 2024 – CenterPoint Energy is encouraging customers in its Ohio natural gas territory to prepare for potential increases in natural gas bills this heating season. Last winter, customers benefited from lower wholesale natural gas prices due to a less volatile natural gas market. However, this year, natural gas commodity costs are projected to increase over last year's heating season as demand is projected to continue to grow. These factors may lead to higher bills compared to last year. Yesterday, the Energy Information Administration (EIA) issued its 2024-2025
winter outlook forecasting heating bills.
The average CenterPoint customer paid $94 per month for natural gas service during the 2023-2024 heating season for a five-month total (November – March) of about $470.
“With natural gas prices projected to increase this winter, we encourage customers to explore all available resources as soon as they can," said Ashley Babcock, CenterPoint's Vice President, Indiana and Ohio Gas. “For customers who may be facing financial hardship, we have tips, tools and programs to help them manage their bills and save energy."
It is important to remember CenterPoint is not a natural gas supplier. The customer's natural gas supplier and corresponding price per unit of gas can significantly influence bill amounts. Customers can choose a fixed price that won't fluctuate over the winter months. Since natural gas represents nearly half of customers' bills during the winter months, now could be a good time for customers to explore supplier pricing options.
Even with these increases, natural gas continues to be one of the most affordable heating sources for most customers in Ohio. In fact, CenterPoint Ohio gas customers who heated their homes with natural gas last year saved up to $1,229 compared to those who heated their homes with propane and up to $697 to $2,595 compared to those who heated with an electric heat pump or electric furnace, respectively. Bills will vary by customer depending on the size and age of the home, number of gas appliances, number of people in the household, thermostat settings and levels of insulation.
CenterPoint has several tools to help customers manage their energy bills.
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Choice Program: Through CenterPoint's natural gas Choice Program, customers can choose a natural gas supplier that's right for them. Competing suppliers offer more pricing options for consumers, such as locking in a fixed rate, which allows them to comparison shop for energy the way they do for other products and services. Customers who do not choose a third-party supplier are served by one of five default Standard Choice Offer suppliers at a variable rate. Visit CenterPointEnergy.com/Choice for a list of suppliers and up-to-date prices.
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Home Energy Assistance Program (HEAP): State and federal utility assistance dollars are available for income-eligible customers. Households must fall at or below 175 percent of federal poverty guidelines to apply. Visit development.ohio.gov or call (800) 282-0880 to learn more.
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HEAP Winter Crisis Program: The HEAP Winter Crisis Program provides assistance once per heating season to eligible households that are disconnected or are threatened with disconnection. Households must fall at or below 175 percent of federal poverty guidelines to apply. Visit development.ohio.gov or call (800) 282-0880 to learn more.
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Percentage of Income Payment Plan Plus (PIPP Plus): PIPP Plus calls for a qualified household to pay 5 percent of its monthly income for gas service throughout the year. To be eligible for the PIPP Plus program, a customer must receive his or her primary or secondary heat source from a company regulated by the Public Utilities Commission of Ohio, must have a total household income which is at or below 175 percent of the federal poverty level and must apply for all energy assistance programs for which he or she is eligible.
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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.
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Energy Efficiency Resources: CenterPoint offers energy efficiency tips, appliance rebates and energy-saving tools to help customers lower their natural gas bills. All Ohio residential natural gas customers are eligible to submit rebates by November 1, 2024. Visit CenterPointEnergy.com/SmartSavings or call 1-800-227-1376 for
additional information.
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Budget Bill: Under this billing plan, a customer's estimated costs for gas service are spread in equal amounts throughout 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. Customers can learn more and enroll for free at
CenterPointEnergy.com or by calling 1-800-227-1376.
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Home Weatherization: CenterPoint's home weatherization program helps qualifying Ohio customers implement energy efficiency improvements to their homes at no cost. Households must fall within 300 percent of federal poverty guidelines to apply. Visit miamivalleycap.org to learn more.
CenterPoint Energy's Ohio natural gas service territory delivers natural gas to approximately 333,000 customers in all or portions of Auglaize, Champaign, Clark, Clinton, Darke, Fayette, Greene, Highland, Logan, Madison, Miami, Montgomery, Pickaway, Preble, Shelby and Warren counties.
Forward Looking Statement:
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the potential increases in natural gas prices, potential increases in customers' natural gas bills, potential savings that customers may achieve, including through the use of natural gas, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.
Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include, but are not limited to, risks and uncertainties relating to: Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include, but are not limited to, risks and uncertainties relating to: (1) CenterPoint Energy's business strategies and strategic initiatives; (2) changes in market demand; (3) CenterPoint Energy's ability to fund and invest planned capital and the timely recovery of CenterPoint Energy's investments; (4) financial market conditions; (5) general economic and political conditions; (6) the timing and impact of regulatory proceedings and actions and legal proceedings; (7) effects of competition; (8) catastrophic events including public health threats; (9) weather variations and the impact of climate change; (10) changes in business plans; (11) continued disruptions to the global supply chain including volatility in commodity prices; (12) changes in technology; (13) legislative actions, including tax and developments related to the environment such as global climate change, air emissions, carbon, waste water discharges and the handling of coal combustion residuals; (14) CenterPoint Energy's ability to execute on its initiatives, targets and goals and operations and maintenance goals and (15) other factors discussed CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, including in the “Risk Factors" and “Cautionary Statement Regarding Forward-Looking Information" sections of such reports, and other reports CenterPoint or its subsidiaries may file from time to time with the Securities and Exchange Commission.