Natural gas prices down again
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An abundant supply of natural gas, warmer-than-normal weather and no major storms to disrupt delivery have converged in favor of Western Pennsylvania gas customers over the last year and will continue to push rates lower this summer.
All three major gas utility providers in the region Friday announced lower rates for the third quarter starting July 1 and running through Sept. 30.
The utilities file for changes in their base rates with the Pennsylvania Public Utility Commission typically once a year, but they also are required to make quarterly adjustments based on the cost of gas.
Equitable Gas said it was lowering its gas cost rate to $5.56 per mcf for the third quarter, down 21 cents from $5.77 in the previous quarter. On July 1 a year ago, the gas cost rate was $7.35 per mcf. Equitable customers will pay an average of $83.24 per month, down from $84.96 in the second quarter.
Bills this time of year when usage is down are lower on average for customers not on a budget plan.
At Peoples Natural Gas, the gas cost rate is falling to $3.39 per mcf, down from $4.13 the previous quarter. The average monthly bill is expected to be $63, down from $70.
Columbia Gas, which reports its gas cost rates differently, said customers will pay 42 cents per therm for the third quarter, down from 43 cents in the second quarter. The average monthly bill should fall to $65.42, down from $66.41.
First Published June 30, 2012 12:00 am