MOUNTAINEER GAS RATE INCREASE DENIED

(11/11/2008)

The West Virginia Public Service Commission has denied Mountaineer Gas's rate increase request, at least for now. Mountaineer's purchased gas rates will remain at the rates approved in June 2008 by the PSC, according to a statement from the PSC. In August, the state's natural gas companies asked the PSC for huge rate increases up to 46 percent to recover costs of purchased natural gas. Melissa Marland, the PSC's administrative law judge, recommended that 13 of the state's gas companies receive interim rate increases. In yesterdays ruling, the PSC said a significant portion on the Mountaineer's June 2008 rate is helping offset the under-recovery from purchased gas costs last winter. That means Mountaineer contends they paid more for purchased gas than it received in rates approved by the PSC. Because gas prices have declined significantly, the PSC believes that the company can recover the difference without more increases.

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