Natural gas prices have hit their lowest level since 1999 thanks to mild weather this winter and surging gas supplies, the U.S. Energy Information Administration reported Thursday afternoon.
That’s good news for consumers who use gas for heat and (as in Texas) rely on gas-fired power plants for much of their electricity.
The EIA said a month ago that natural gas heating costs for this winter would probably sink 13 percent below last year’s to $629 per household, the lowest since the winter of 2002-03. The final result was probably even less costly. Temperatures in March were unusually mild, and gas prices sank throughout the month. Even homes heated with electricity were likely to see a five percent drop in winter bills, EIA forecast.
Read the full article at the Dallas Morning News.
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.