Tampa-based Peoples Gas is sending a gift of sorts to its customers beginning today by reducing natural gas prices for the second time this year. The Purchased Gas Adjustment (PGA) factor on residential bills will drop about 32% to $0.66749/therm, following a 15% decrease in March. The two reductions lowered the PGA factor to September 2000 levels, said the company.

Like the rest of the country, natural gas prices rose in the winter months. For Peoples Gas, the pass-through cost charges customers only what Peoples pays its suppliers. The PGA was “well below” the Florida Public Service Commission’s approved cap of $1.16073/therm before the decrease, said Peoples.

“Natural gas pricing has historically proven to be an attractive long-term value,” said Peoples Marketing Director Lance Horton. Peoples, a unit of TECO Energy Inc., also said it expects some stability in natural gas wholesale prices over the next few months. Peoples is Florida’s largest gas distributor, serving more than 260,000 customers in the state.

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