The KUB Board of Commissioners today approved, on second and final reading, a natural gas margin increase needed to support KUB’s investment in the natural gas distribution system. KUB had originally scheduled the increase for 2009, but KUB was able to defer it four consecutive years through cost-saving efforts. Those deferrals saved KUB’s natural gas system customers a total of $22 million over the last four years and the average residential natural gas customer $150. The margin increase, which will raise each residential natural gas customer’s average monthly bill $3, will be seen on natural gas customers’ bills beginning October 2013.
At the May meeting, the Board also approved a budget of $851.8 million for fiscal year 2014. The budget, which will keep KUB’s Century II and PACE 10 utility system infrastructure replacement programs on track, includes $25 million in capital investment
for the natural gas system.