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Many Southwest Ohio Homeowners are wondering about an offer arriving in the mail from Duke Energy's "retail" arm, offering a locked in natural gas rate.
Should you sign up?
The Pros & Cons
By locking in at the current price, your gas rates can't rise until next September. That gives some piece of mind.
However, if gas prices go down in February and March -- which is possible, given this mild winter and dropping natural gas prices nationwide -- you'll be locked in at a higher rate than your neighbors.
- Duke Retail is offering gas at 54 cents per hundred cubic feet. locked in until September 2012, the start of next heating season.
- Duke's standard variable rate is one penny higher, 55 cents. That rate could go up or down over the next six months.
- Cincinnati Bell is offering a lower rate of 48 cents. However, that is also a variable rate which can change.
-Other competitors are offering rates slightly lower than Duke. Click here for the PUCO's Apples to Apples comparison chart, or type in www.puco.ohio.gov .
Bottom line: Whether you sign up or not for Duke's new offer, you probably won't notice much difference.
Lowering the price you pay for a hundred cubic feet by a penny may not even be noticeable on your gas bill.
However, if you worry about a sudden cold wave causing gas prices to spike in February or March, then Duke's offer might be worth considering.
Whatever you decide, don't waste your money.
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