pan>)--Customers of NSTAR Gas can expect to see a substantial mid-winter
price cut thanks to a continued steady decline in natural gas prices.
NSTARs current supply price, which is already significantly less than
last winter, will drop by 16 percent on February 1st if the
companys proposal is approved by the Massachusetts Department of Public
Utilities. On average, the new lower supply price will save NSTAR
customers who heat with natural gas about $15.00 a month compared with
current rates and a total of about $30.00 a month compared to last
winter.
“Along with being one of the cleanest, most efficient heating-fuel
options, the continued drop in prices has made natural gas one of the
most economical choices as well”
Along with being one of the cleanest, most efficient heating-fuel
options, the continued drop in prices has made natural gas one of the
most economical choices as well, said Tom May, NSTAR Chairman,
President and CEO. While prices for other heating fuels remain high,
lower natural gas prices are helping families to stay warm this winter
with less of an impact on their household budgets.
NSTAR has submitted a new gas supply rate of 58.69 cents per therm, down
from the current rate of about 70 cents. 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 a total of $144.68 a
month, down from the current price of $159.63. For most customers who
heat with natural gas, this amount also includes cooking and
water-heating.
A conversion allowing for an apples-to-apples comparison of NSTARs
proposed price with those of other fuels yields a total per gallon
price for natural gas of $1.54.
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 plentiful 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. For more information, visit www.nstar.com.

Information Source: Business Wire