NSTAR Announces Lower Prices for this Heating Season
|Winter natural gas prices drop as supplies recover from last year's storms|
“While international pressures continue to make prices for all fossil fuels higher than we'd like them to be, NSTAR is pleased to be able to pass on the savings of this year's reduction to our customers.”
Natural gas prices will begin this heating season 18 percent lower than last year if NSTAR's proposed winter rate is approved by the Massachusetts Department of Telecommunications and Energy. The decrease in the Cost of Gas Adjustment, from $1.457 to $1.1949 per therm, would mean the average NSTAR Gas heating customer would see a drop of nearly $40.00 per month when compared to last November's price.
"The effects of last year's devastating hurricanes on natural gas supplies are behind us," said Thomas J. May, NSTAR Chairman, President and CEO. "While international pressures continue to make prices for all fossil fuels higher than we'd like them to be, NSTAR is pleased to be able to pass on the savings of this year's reduction to our customers."
If the proposed price cut is approved, the average NSTAR Gas heating customer, using 144 therms of gas per month between November and April, will pay approximately $233 per month, down from $271 last November. Non-heating customers using natural gas for cooking and hot water will see a drop to $39 from $44 last year. The Cost of Gas Adjustment reflects the forecasted price of natural gas, with no profit made by NSTAR on this charge.
In a related matter, the DTE recently approved the Fixed Price Option pilot program proposed by NSTAR and Massachusetts Attorney General Tom Reilly. Customers choosing this option will lock into a supply price of $1.2149 for the entire heating season. All qualifying NSTAR Gas customers will be notified by mail when this option becomes available. The program will be open to the first 25 percent of customers who apply.
NSTAR transmits and delivers electricity and natural gas to 1.4 million customers in Eastern and Central Massachusetts, including over one million electric customers in 81 communities and nearly 300,000 gas customers in 51 communities.