Shale Natural Gas, Oil and NGLs and ESA Message Board

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Gold/Mining/Energy : Shale Natural Gas, Oil and NGLs and ESA

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From: jrhana	7/20/2009 3:14:07 PM
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The (Relatively) Low Price of Natural Gas wvmetronews.com 07/20/2009 MetroNews Charleston, Kanawha County Natural gas prices are dramatically lower now than they were as recently as a year ago. In Summer 2008, natural gas was selling for $13 per 1,000 BTUs. Now in Summer 2009, that price is down to just more than $3 per 1,000 BTUs, according to numbers reviewed last week. Those numbers are important because the current price of natural gas will help determine what you pay for gas during the Winter. In less than two weeks, natural gas companies will be filing their new rate requests with the state Public Service Commission. "I expect all natural gas utilities to file for significant rate decreases," says state Consumer Advocate Byron Harris. Those new rates will take effect on November first. "Especially in these tough economic times, with all other things going up, like electricity rates going up, it would be nice to be able to lock in relatively low prices and let them stay that way for a year or two and give people a break," says Harris. Harris says those in his office have been encouraging natural gas companies to stockpile gas at the current price. Buying more now, he says, could save customers money later. "We have been actively urging all gas utilities to go out and lock in as much of this gas as they can." Harris says they've have "varying" degrees of success with that. Rate filings are due to the PSC by August first.

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