NSTAR Gas Proposes Lowest Natural Gas Heating Price in 10 Years
September 18 2012 - 9:32AM
Business Wire
NSTAR Gas customers can soon expect to be paying the lowest
natural gas price of any heating season since 2002. The company has
submitted a new supply rate of 57.32 cents per therm, down 18
percent from last year’s price of about 70 cents. If approved by
the Massachusetts Department of Public Utilities, the new price
would go into effect November 1st and would save the average
heating customer over $15.00 a month compared to last year.
“As we head into another heating season with low prices, it’s no
wonder we’re seeing record numbers of customers converting their
heating systems to clean, efficient natural gas,” said Rod Powell,
President of NSTAR Gas. “In today’s economy, with the price of
other fuels hovering near all-time highs, our customers will once
again be glad they chose natural gas to keep their families warm
this winter.”
If the proposed price cut is approved, NSTAR Gas heating
customers using an average of 131 therms of gas a month between
November and May will pay $145.60 a month, down from $161.25 one
year ago. For most customers who heat with natural gas, this amount
also includes cooking and water-heating.
The supply rate, known as the Cost of Gas Adjustment, reflects
the price NSTAR pays for natural gas, with no profit made by the
company on this charge. The proposed decrease reflects a continued
decline in natural gas prices due in part to abundant domestic
supplies.
NSTAR is the largest Massachusetts-based, investor-owned
electric and gas utility. The company transmits and delivers
electricity and natural gas to 1.4 million customers in Eastern and
Central Massachusetts, including more than one million electric
customers in 81 communities and 300,000 gas customers in 51
communities. NSTAR is a Northeast Utilities company (NYSE: NU). For
more information, visit www.nstar.com.
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