UPDATED 10/7/2010: If you live in Ohio, check your mail for a flyer from IGS.
Once again for the 2010 - 2011 winter, a competing natural gas company wants you to dump Duke. IGS Energy is sending a new mailer out to Cincinnati area households, offering a locked in rate of 61 cents per hundred cubic feet.
IGS spokesman Mark McHale says the advantage is that this is a guaranteed 12 month locked in rate, unlike Duke's variable rate, which changes monthly.
(Note: If you are considering an offer to switch electric providers to Duke Retail or Dominion, click here for my latest report on that topic).
But will switching gas companies really save you any money?
Intriguing Offer
IGS wants people in Southwest Ohio to switch from Duke's variable rate to their fixed rate plan for natural gas (this is not available in Kentucky or Indiana, however).
Homeowners we spoke with downtown, like Jamie Woodward, said it sounds intriguing, if true. Jamie said "yeah, probably, if it saved money, I would consider switching."
James Payne told me "if they were cheaper, yeah, I might make the move. Definitely!"
Saves Money...When Compared to Old Rates
Indeed, IGS claims a big savings over Duke's "average rate" over the past 5 years. Their chart shows Duke at 91 cents, versus IGS at 61 cents.
But buyer beware: It's basing that comparison on Duke's high rates from two years ago, before the recession sent natural gas prices plunging. It's not that way now, and it's not a fair comparison.
Next: We Compare the Numbers
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