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NSTAR: Natural Gas Prices Lower To Start Season

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Sep 14, 2006 11:23 pm US/Eastern

NSTAR: Natural Gas Prices Lower To Start Season

Average Customer Could Save Around $40 Per Month

BOSTON (CBS4) ― Natural gas prices will begin this heating season 18 percent lower than last year if NSTAR's proposed winter rate is approved by the Massachusetts Department of Telecommunications and Energy, according to a press release sent out by the company.

The decrease in the cost of gas adjustment, from $1.457 to $1.1949 per therm, would mean the average NSTAR gas heating customer would see a drop of nearly $40.00 per month when compared to last November's price, the release said.

"The effects of last year's devastating hurricanes on natural gas supplies are behind us," said Thomas J. May, NSTAR's chairman, president and CEO. "While international pressures continue to make prices for all fossil fuels higher than we'd like them to be, NSTAR is pleased to be able to pass on the savings of this year's reduction to our customers."

If the proposed price cut is approved, the average NSTAR Gas heating customer, using 144 therms of gas per month between November and April, will pay approximately $233 per month, down from $271 last November. Non-heating customers using natural gas for cooking and hot water will see a drop to $39 from $44 last year. The cost of gas adjustment reflects the forecasted price of natural gas, with no profit made by NSTAR on this charge, according to NSTAR.

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