Columbia Gas of Kentucky customers will pay 4.7 percent less for natural gas for the next three months, because the state Public Service Commission has approved the utility's quarterly gas cost-adjustment proposal.
Columbia Gas said this week that its supply cost is decreasing from $3.72 per thousand cubic feet to $3.54.
The new price will be in effect until the next scheduled gas cost adjustment, scheduled for December, the company said.
Columbia said the price is a 37 percent decrease from the September 2011 price of $5.6418 per thousand cubic feet.
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Natural gas distribution companies do not earn a profit on their gas commodity costs. A customer's bill includes both the gas supply and delivery costs.
Columbia said the gas supply cost charges account for about half of a customer's monthly bill.
Lexington-based Columbia Gas of Kentucky is a subsidiary of NiSource Inc. and serves about 140,000 customers in 31 Kentucky counties.