Philadelphia Gas Works (PGW) (Philadelphia, PA) has filed a request with the Pennsylvania Public Utility Commission to lower the Gas Cost Rate (GRC). This could result in nearly $64 million in savings for more than 500,000 customers in the city. The proposed reduction would lower the cost from $6.6959 to $5.5959 per one thousand cubic feet (mcf) on September 1, 2001. According to Thomas Knudsen, Interim Chief Financial Officer for PGW, the cut could result in an annual savings of $110 for the typical residential home heating customer.
Publication date: 05/14/2001