Home heating costs this winter will be at their lowest in five years for Consumers Energy customers in Michigan.
Consumers Energy’s average residential natural gas customer can look forward to saving about $50 in lower heating costs this winter. Compared to 5 years ago, an average residential customer’s bill this heating season is down about $200 as a result of steps taken by Consumers Energy. Michigan’s largest gas utility has lowered its fuel costs by 44 percent, saving customers $260 million this winter compared to five years ago.
Businesses also will save on heating and manufacturing when using natural gas. The company plans to implement a gas cost recovery factor for November of $4.5864 per Mcf, down from the October GCR factor of $4.6260 per Mcf. The November factor represents a 16 percent cost reduction from the prior year.
Consumers Energy makes no profit on the natural gas commodity we provide, so we are able to pass along all of the price savings to our retail sales customers. The company’s purchasing strategies and vast underground storage help us keep our price less volatile than the historical market price. Current GCR factor and 18-month historical pricing.
We’re working hard to lower costs for our customers as part of our Promise to Michigan to provide affordable and reliable service. We know that many family budgets are tight these days and every savings helps out.
Customers also can save more money by making their homes and businesses more energy efficient. There are many rebates and energy efficiency programs to choose from at www.ConsumersEnergy.com/save.
Looking to save with natural gas? Consumers Energy also offers an easy-to-use Natural Gas Value Calculator to compare natural gas costs to other heating fuels, such as propane or heating oil.