GREENVILLE - Lower natural gas prices mean the average residential electric consumer in Greenville will pay approximately $5 less each month.
In a release issued Friday, GEUS thanked the mixture of coal and natural gas-fired electrical generation resources they have to call upon to satisfy the demand for electricity in Greenville. In addition, GEUS’ Power Supply group actively seeks the best available market price for power in the wholesale market.
The recent mild winter across the nation coupled with the discovery and aggressive drilling for shale gas has caused an overabundant supply of natural gas to drive down its cost.
This lower cost is passed along to Greenville consumers thru a lowered Fuel Adjustment Charge (FAC) of $.028\kWh. GEUS’ FAC has been $.033\kWh since it was lowered in October 2010.
“GEUS is very fortunate to not be dependent upon one fuel source and to have the flexibility to purchase power in the wholesale market at competitive prices,” said GEUS General Manager David McCalla. “Additional flexibility comes from our ability to produce power locally when doing so is more beneficial to our consumers”, McCalla added.