PUCO approves new gas purchase system for Columbia GasWritten by Toledo Free Press Staff Writers | | email@example.com
The Public Utilities Commission of Ohio (PUCO) has approved a new system that Columbia Gas of Ohio will use beginning in 2010 to purchase natural gas for customers who buy their gas directly from the company, according to a Dec. 2 news release.
On April 1, 2010, the company’s Gas Cost Recovery (GCR) adjustment will be replaced by the Standard Service Offer (SSO). Columbia’s GCR customers will see the new term on their bills, but nothing else will change, the company said in the release.
“Columbia Gas of Ohio will continue to deliver natural gas safely and reliably to our 1.4 million customers,” said Columbia Gas of Ohio President Jack Partridge in the news release. “Customers who buy their gas from Columbia will still buy their gas from us under the SSO and will not have to take any action.”
In February 2010, Columbia will hold a PUCO-supervised auction in which natural gas marketing companies will bid on the right to supply gas to Columbia. The company would purchase the gas from these suppliers and then re-sell it to customers at the auction-set price.
The change does not affect customers who purchase their gas from a third-party marketer through the Customer CHOICEsm Program, the company maintains.
“The Standard Service Offer will be reset each month based on the market price for natural gas, plus a retail price adjustment that would be determined by the auction.” the news release stated. “Columbia Gas will continue to be prohibited by state law from earning a profit on gas sales, just as it is today under the GCR system.”