Deadline Approaches For ONG's Lock In Rate

Wednesday, October 11th 2006, 6:34 am
By: News On 6

Cooler temperatures are right around the corner. The government estimates with dropping natural gas prices, the average homeowner will pay 14-percent less this year to heat their homes. But you might want to take a closer look at the way you pay before winter hits.

ONG has a customer option called the Voluntary Fixed Price Plan, which locks in the rate you pay, capping the price all winter. Last year, company officials say customers saved about $110 over 12 months. But this year's offered lock in rate, of 9.25 per decatherm, is $2 more than the current rate.

ONG customer Gina O'Hara: "It wouldn't do good for me to do it, because the lock in rate is actually higher than what I pay right now."

Company officials say they set the lock in rate back in August and the plan does not guarantee savings, some years it works out and some it doesn't.

The lock in deadline is October 20th, but natural gas prices are expected to keep dropping.