Youngstown sets gas rate for the year

Youngstown has signed a new contract for those who participate in its natural gas program with a reduced rate.

Customers will pay a fixed rate of $5.9886 per MCF [a measurement equal to 1,000 cubic feet of gas] for a year beginning in November.

The city selected Vectren Source of Evansville, Ind., which offered the lowest gas rate.

Vectren will replace IGS Energy of Dublin, Ohio, which has the city’s current gas contract.

Those who participate in the city’s natural gas program currently pay $6.39 per MCF.

“Wholesale natural gas prices are at 6-[to]-7-year lows and Youngstown’s rates are being set at an excellent time,” said Mayor Jay Williams.

Vectren will send letters to those in the city around Sept. 13 explaining rates, terms and conditions of the offer, and how new customers can enroll.

Also, those who are currently served by another supplier can join the city program by calling Vectren at 800-608-8150. Some natural-gas suppliers charge a fee for early termination.