Natural gas prices are down 46% compared with last year, due to increased supply and a mild winter, according to the Energy Information Administration. Utilities that use natural gas to generate electricity are passing their savings along to customers in the form of lower rates.
“The bills are coming down in some areas,” says Keith Voight, a spokesman for the Edison Electric Institute, an association of shareholder-owned electric companies. In New Jersey, for example, the Board of Public Utilities estimates that Public Service Electric & Gas customers could see rates drop 6.4%. Nationwide, “we may not see full effect happening until next year,” says Tyler Hodge, an economist with the Energy Information Administration.
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Is a policy analyst consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.