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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (249553)7/11/2003 12:27:36 PM
From: UnBelievable  Read Replies (3) of 436258
 
Michigan Natural Gas Seen Costing Up To 30% More This Yr

Whatever the Fed is doing to battle deflation seems to be working.

LANSING, Mich. (AP)--Natural gas customers could pay up to $172 more to heat their homes this winter, state utility regulators said Friday.

The Michigan Public Service Commission said it expects natural gas rates to be in a range between $5 and $6 per 1,000 cubic feet between November and April, up to 30% higher than 2000 and 2001's level of $3.87, the commission said.

"Michigan's natural gas customers, like those across the country, should prepare now for price increases," commission chairwoman Laura Chappelle said in a written statement.

The commission on Friday released an updated report on expected natural gas prices that includes a comparison of prices charged by the state's four largest natural gas utilities.

Among the state's largest utilities, increases in natural gas rates have ranged from 13.5% to 57.4% between July 2002 and this month, the report said.

The commission attributed the hike in natural gas prices to low storage levels, rapid loss of low-cost supplies and increasing demand, particularly for electricity generation.

Michigan is the sixth-largest state in natural gas consumption - more than 78% of homes in Michigan are heated with natural gas, the commission said.

The commission has scheduled a hearing for July 22 at its Lansing headquarters to publicize the increasing cost of natural gas.
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