Summit Natural Gas drops gas prices by nearly 70%
Summit Natural Gas of Maine will be dropping the price it charges for gas by 68% to correct for overcollection.
Summit’s drop in price per therm from 83 cents to 26 cents was approved by the Public Utilities Commission on Monday, and will be retroactive to March 1 and will stay active until Oct. 1.
The change was required by the commission because the natural gas company overcollected from its customers, commission Executive Director Harry Lanphear told the Kennebec Journal.
“When Summit was approved to provide gas service to customers in Maine, part of that approval from the commission was when you are getting into a situation when you are over — or undercollecting by 10 percent, you need to file for a mid-course adjustment.”
The Augusta-based natural gas company provides service to both residential and commercial customers in Kennebec and Cumberland counties — including the towns of Yarmouth, Augusta, Falmouth and Waterville.
“At Summit we are committed to providing [a] reliable, safe, clean-burning fuel choice for Mainers,” company spokesperson Lizzy Reinholt said in a prepared statement announcing the drop. “We aim at working to continuously provide our customers with more predictable and affordable natural gas prices and our current reduction in cost is another example of how we are living up to that commitment.”
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