National Grid : Forecasts Lower Winter Natural Gas Bills for Upstate New York Customers

National Grid Forecasts Lower Winter Natural Gas Bills for Upstate New York Customers Oct 18, 2019

National Grid's upstate New York customers are expected to see lower natural gas bills for the coming winter season compared to last year, assuming a typical winter. The lower bills are based on forecasted decreases in wholesale supply prices during the Nov. 1 through March 31 winter heating season. Electricity bills are forecast to be slightly higher compared to last winter.

'Every fall we provide our customers with a winter bill outlook to help them plan and to encourage them to take advantage of bill management andenergy efficiency programs,' said John Bruckner, National Grid's New York president. 'This is the ideal time for consumers to assess their energy profile and takesimple steps to control energy costs.'

Residential Natural Gas Bill Forecast

The company forecasts total residential natural gas bills from Nov.1, 2019 through March 31, 2020 to be approximately $466 based on 719 therms of usage, or about $102 (18 percent) less than last winter, which was based on typical upstate New York average usage of 713 therms. The forecast is based on slightly higher therm usage because 2020 is a leap year.

Residential Electricity Bill Forecast

Compared to last winter, National Grid is forecasting total monthly residential electricity bills to be approximately $3.50 higher (about 4.5 percent), based on average monthly use of 600 kilowatt-hours.

Because energy costs and usage are impacted by weather conditions, the company reminds customers that forecasted figures are approximate. In addition to weather, factors that determine actual costs are wholesale energy supply prices and energy consumption, both of which can be dramatically impacted by severely cold or unusually warm temperatures.

Energy bills are a combination of supply prices, which are based largely on market conditions, and delivery prices, which are set by regulation. Overall, assuming equal usage, total energy bills for most consumers have trended downward over the last decade.Customers can choose to have National Grid purchase energy supply on their behalf, or they can purchase their gas and electricity from an energy services company.

National Grid manages the energy supply portfolio purchased on behalf of customers by using a variety of electricity and natural gas hedging strategies to help offset market price volatility. These strategies include balancing long-term and short-term supply contracts and purchasing natural gas in the summer, when it is less expensive, and storing it for winter use. The company does not profit from purchasing supply on the customer's behalf. Customers who contract with an energy services company will pay supply prices agreed to with that supplier.

Managing bills through energy efficiency

National Grid provides a long list of easy-to-implement efficiency tips on itsenergy efficiency web page. Here are a few examples:

• Replace five incandescent lights with ENERGY STAR® light bulbs and save $9 a month.
• Turn off lights, appliances, TVs, stereos, and computers when not in use, and save approximately $9 a month.
• Unplug your electric space heater or hot tub and save $41 a month.
• Recycle your second, older refrigerator and save $23 a month and earn arebatefrom National Grid.
• Washing your clothes in cold water can save you $9 per month.
• Repair leaky faucets and save $6 per month.
• Unplug electronics with remote control or 'instant on' features and save $4 a month. An advanced power strip will do the work for you.
• Install a programmable thermostat that lowers the setting at night and when no one is home and save $15 a month.
• Caulk or weather-strip around windows and doors to keep warm air in and save $13 a month.
• When buying new appliances, always choose ENERGY STAR® and save $11-$24 a month for the life of the appliance
  

The company's website also offerswinter safety tips, including carbon monoxide precautions. In addition,the National Grid Marketplace is a one-stop shop for energy-efficient products, where site visitors can learn about rebates on Wi-Fi thermostats, lighting, water-saving products, and more. The New York State Energy Research and Development Authority also offerstips and programs.

National Grid also provides various billing options for customers, including theBudget Billing Plan that spreads payments out more evenly throughout a year and variouspayment optionsfor customers who may have difficulty paying their bills.

Households receiving public assistance, supplemental security income, food stamps or other public assistance or the elderly may qualify for the federalHome Energy Assistance Program, which provides financial aid to income-eligible participants. Customers eligible for HEAP also will qualify for National Grid'sEnergy Affordability Program.

About National Grid

National Grid (LSE: NG; NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. We are the largest distributor of natural gas in the Northeast. National Grid also operates the systems that deliver gas and electricity across Great Britain.

National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions by 80 percent by 2050. Our Northeast 80×50 Pathway is an industry leading analysis for how to reach that goal in the states we serve, focusing on the power generation, heat, and transportation sectors.

Read more about National Grid's vision to accelerate the transition to a decarbonized economy and rebuild opportunity for America's working families in The Clean Energy Promise, an eBook written by National Grid's U.S. president, Dean Seavers.

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