CHECK PRICES.
Company officials confirmed prices as of Friday, but rates change often. You can check pricing year-round through two state agencies that put together charts of current offers.
The Public Utilities Commission of Ohio, at http://www.puco.ohio.gov or 800-686-7826, updates its chart on Thursdays and the Ohio Consumers’ Counsel, http://www.pickocc.org, on Fridays.
Those prices could be different from today’s report because I received the most up-to-date prices possible and in some cases, marketers created special rates for my readers.
Prices that I’ve included in my chart are for only the Dominion East Ohio area. Columbia Gas customers may use this general information and the state online sites, but prices are set in hundred cubic feet (ccf) and tend to be slightly higher because there’s a different distribution system and infrastructure costs are higher.
KNOW YOUR CONTRACT.
Know when it ends and whether it has a cancellation fee. A contact number is on your gas bill. If you’re thinking about canceling, determine whether the savings will be greater than the fee. Take the difference in prices and multiply it by 100, or the average amount in thousand cubic feet (mcf) a residential customer uses in a year. Then subtract any cancellation fee that might apply.
SWITCHES TAKE TIME.
It can take one to two billing cycles to take effect. If you’re switching, call the new company. It will notify the old company. But sometimes by calling your old company, you might get a “special” offer to stay or it might match the price of the competitor. Usually, you’ll get one last bill from your current supplier and switch by the following month. You also have seven days from the time you receive a confirmation letter from Dominion to cancel without penalty.
EVERYONE PAYS DELIVERY FEES.
All residential customers pay the same usage-based charges (to deliver the gas to your home) and monthly service fee, regardless of whether you choose your own supplier or stay with Dominion. The prices quoted are for base rates, not for delivery. Everyone pays a monthly fee to Dominion for its costs as a utility, which currently is $19.73. In 2008, the state approved a change raising Dominion’s monthly fee from $5.70; at the same time, the formula to determine delivery charges went down. Dominion officials say that because several riders and fees have gone up and down, there is no net increase on overall average residential bills over the course of a year and since 2008. Where consumers feel the biggest sting is during the summer, when they are not using as much gas, but still pay the monthly fee.
CONSIDER BUDGET BILLING.
It will spread out costs over a year. Budgets are usually re-evaluated in the spring, but you can ask for a review at any time. Account balances now or soon should begin building up a credit to get consumers ready for high winter usage. If you still owe a lot on your balance, call Dominion for a review.
IF YOU SEE A CHEAPER RATE, CALL YOUR PROVIDER.
Ask if it will match one of the prices listed in my chart. It doesn’t have to. Some might do so, though you might be charged a cancellation fee.
WEIGH AGGREGATION OFFERS.
Many communities form aggregations, or buying groups, and negotiate a rate for residents and small businesses. Whether the rate is competitive depends on when the group locks its rate. Many communities have rates on their city websites, or you can call to get information. Some contracts are coming up for renewal and others are in the middle of a term. Some groups might still let you in.
WHOLESALE VS. RETAIL PRICES.
Prices you hear about on TV or see in articles that refer to wholesale prices on the New York Mercantile Exchange (NYMEX) are not the same as the price of the natural gas that is delivered to your home. Suppliers add their costs to those wholesale prices. The state-approved formula or “adder” to the monthly Standard Choice Offer (SCO) price through providers randomly assigned by Dominion is $1/mcf plus the NYMEX.
