UGI Rate Hike Approved: Natural Gas Prices Set to Rise for 700k Customers

UGI Utilities has won approval for another rate hike from the state Public Utility Commission. The increase will see over 700,000 customers pay almost 6% more for natural gas this year and next. The first phase of the two-part hike took effect on Thursday, raising the average monthly bill for residential customers to $117.69, up from $113.76.

This represents a 5.7% increase in rates over the course of the year, with another rise expected next October to $120.21. In January, UGI had asked for an 8.7% increase, which would have taken the average monthly bill to $123.55. The company will still be able to raise rates based on the cost of gas.

The settlement also includes provisions for low-income customers, including automatic enrollment in the utility's bill-paying help programs and a requirement that UGI add $250,000 to its hardship fund.