Oklahoma Natural Gas opens its Voluntary Fixed-Price Plan

Journal Record, The (Oklahoma City), Aug 25, 2006 by Journal Record Staff

Oklahoma Natural Gas Co. has opened its Voluntary Fixed-price Plan for buying natural gas through the 12-month period beginning Nov. 1. Participants who sign on by Oct. 20 will pay $9.25 per dekatherm consumed.

This program frees consumers from worrying about the rise or fall of natural gas prices. A dekatherm is the approximate amount of energy contained in 1,000 cubic feet of natural gas.

ONG Vice President of Administration Ron Brown said the program does not promise savings over future price trends, and customers could end up paying more if natural gas prices decline over time. Customers now enrolled in the program, however, will realize an average savings of about $110 for the 12-month period that ends in October.

Oklahoma Natural Gas serves more than 800,000 customers in the state. A subsidiary of Oneok of Tulsa, ONG makes its profits from delivering, not selling, the gas. ONG uses a competitive bidding process to acquire natural gas supplies for its customers. About 50 percent of the company's annual requirement consists of gas already in storage or gas bought through fixed-price contracts. The remaining supply will be acquired through contracts tied to delivery market prices.

For more information, go to www.oklahomanaturalgas.com or call 1- 800-208-7267.