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City drops gas rate 5%

Mayor Dwight C. Jones announced today a five percent reduction in the purchased gas cost (PGC) rate charged by the city of Richmond Department of Public Utilities.
(DPU):

The decrease, due primarily to market conditions, has shown a decline in the price of the commodity over the last several months. The City passes along the cost of the natural gas it purchases to its customers, dollar for dollar, without any markup.

Beginning with the first bill customers receive in December 2010, the PGC will decrease from $.735 to $.695 per Ccf (100 cubic feet of natural gas). As a result, the average residential customer who uses 70 Ccf per month will pay approximately $89.99 compared to a current price of $92.79.

DPU analysts periodically review and adjust rates up or down based on market and weather
conditions.

DPU offers information and programs year-round to encourage customers to better manage
their utility bills and seek assistance before bills become unmanageable.

DPU also encourages customers to consider enrolling in the Equal Monthly Payment Plan (EMPP)
in order to avoid large seasonal fluctuations in their monthly bill. More information about
EMPP and other programs is available by calling 644-3000 or visiting DPU’s Website at http://
www.richmondgov.com/dpu.

The City of Richmond Department of Public Utilities provides natural gas, water, wastewater and stormwater services to more than 500,000 residential and commercial customers in the metropolitan region. DPU also operates electric street lighting utility, which maintains more than 37,000 streetlights throughout the City. For more information, call DPU’s
Customer Care Center at 644-3000 or visit DPU’s Web site at www.richmondgov.com/dpu.

PREVIOUSLY: Expect a decline in your gas bill (February 17, 2009)

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