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PRESS RELEASE

For Immediate Release
2002-01-31

 
For further information contact:
Nancy Taylor, Utilities Kingston, 546-1181, ect. 2460

PRICE OF NATURAL GAS CONTINUES TO FALL - UTILITIES SAYS ANNUAL SAVINGS MAY BE OVER $200

On Friday, February 1, Utilities Kingston gas customers will pay a little less to heat their home.

Natural gas prices are falling and Kingston's utility company is passing on the price dip to its customers.

The current commodity price charged for natural gas is $0.2884 per cubic metre, but starting Friday the price falls to $0.2163 per cubic metre.

The decrease is a result of Utilities Kingston's quarterly review of gas commodity prices.

"It's a nice to be able to pass on these savings to our neighbours," says Jim Keech, President and CEO of Utilities Kingston.

"The price decrease works out to an annual savings of $223.51 based on an average home using 3,100 cubic meters. That's significant," added Keech.

Keech notes that the natural gas price change is a result of current market conditions and adds that Utilities Kingston does not make any profit from selling the commodity portion of a customer's bill.

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