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SALT LAKE CITY (AP) -- Questar Gas is asking the Public Service Commission of Utah to reduce natural gas rates by $6.7 million.
The rate cut requested Tuesday would lower the typical homeowner's bill by about $3.50 a year starting Oct. 1.
Questar Gas and the commission use third-party forecasts of natural gas prices twice a year to estimate how much the utility's rates should be adjusted.
Questar Gas President and CEO Ron Jibson says the cost of buying natural gas for customers has fallen in recent months and is projected to stay low for the next year.
Jibson does caution, however, that natural gas prices can fluctuate with changes in supply and demand.
(Copyright 2009 by The Associated Press. All Rights Reserved.)