Tommy Oliver | CFO |
Paul Nester | President & CEO of RGC Resources |
Michael Gaugler | Janney Montgomery Scott |
0:04 [Starts Abruptly] Despite the dramatic increase in customer counts as discussed by Paul, our first quarter firm volumes were negatively impacted by the 7% warmer-than-normal weather that the Roanoke experienced. 0:17 As shown on Slide 4, residential volumes declined by 8% and commercial volumes declined by 5% due to the much warmer December 2021.
In fact, it was 32% lower heating degree days in that month compared to normal. Overall, industrial volumes were down, primarily, due to the large customer that fuel switched to natural gas in 2020.
Excluding this multi-fuel customer that switched its primary fuel from natural gas to coal, industrial volumes would have increased.