Utility Offers Price Lock Again This Year

OKLAHOMA CITY (AP) -- Oklahoma Natural Gas is offering customers the option of locking in the price they pay for gas for a 12-month period beginning November 1st.<br/>The utility announced Tuesday that

Tuesday, September 4th 2007, 11:16 am

By: News On 6

OKLAHOMA CITY (AP) -- Oklahoma Natural Gas is offering customers the option of locking in the price they pay for gas for a 12-month period beginning November 1st.
The utility announced Tuesday that customers are being offered the price of $8.889 per dekatherm. The average customer living in a single-family home uses about 70 dekatherms of natural gas per year.

ONG has offered its customers the chance to lock in their gas prices for a year at a time since 2002 because the cost of natural gas can be volatile, the utility said.

If prices increase those who locked in their costs save money but if prices decrease, they still pay the locked in higher price.

Customers who locked in their prices saved money in 2002-03, and 2005-06, but lost money in 2003-04, 2004-05 and this year.

For more information about the ONG program, click here.

Watch the video: ONG Customers Get A Chance To Lock In Their Rate

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10/11/2006 - Deadline Approaches For ONG's Lock In Rate