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11/02/2009
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Paying Less For Natural Gas
MetroNews
Statewide

Consumers in the United States and especially in West Virginia haven't seen a lot of relief in the costs of living in the 12 to 18 months, but for those who heat and cook with gas that's changing, at least for now.

Rates for all of the gas providers in West Virginia decreased substantially on Sunday.

"It's as low as four percent for Union Oil and Gas to as high as 43.5 percent for Hope Customers," said PSC Consumer Advocate Byron Harris of the declines.  "Those percentages are comparing what people paid last Winter to what they will pay this Winter."

As companies filed their new rates with the state Public Service Commission, the rates dropped dramatically to reflect the drop in the spot market prices for natural gas.

Harris says it's a reflection of simple supply and demand.

"2008 had, probably, record high gas costs throughout the year," said Harris. "Prices in July of 2008 got to be over 13 dollars per 1,000 cubic feet.  That wasn't sustainable even in normal economic times.  You couple that with a worldwide recession and the prices for all commodities dropped substantially."

Harris cautions, however, residents enjoying the big break on their gas bills shouldn't get used to it.  He expects the rates to go up again next year and still urges everyone to take measures to reduce gas consumption and make their homes more energy efficient.


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