NSTAR Gas Proposes Lowest Natural Gas Heating Price in 10 Years

Before you go, we thought you'd like these...
Before you go close icon

NSTAR Gas Proposes Lowest Natural Gas Heating Price in 10 Years

BOSTON--(BUSINESS WIRE)-- NSTAR Gas customers can soon expect to be paying the lowest natural gas price of any heating season since 2002. The company has submitted a new supply rate of 57.32 cents per therm, down 18 percent from last year's price of about 70 cents. If approved by the Massachusetts Department of Public Utilities, the new price would go into effect November 1st and would save the average heating customer over $15.00 a month compared to last year.

"As we head into another heating season with low prices, it's no wonder we're seeing record numbers of customers converting their heating systems to clean, efficient natural gas," said Rod Powell, President of NSTAR Gas. "In today's economy, with the price of other fuels hovering near all-time highs, our customers will once again be glad they chose natural gas to keep their families warm this winter."


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 $145.60 a month, down from $161.25 one year ago. For most customers who heat with natural gas, this amount also includes cooking and water-heating.

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 abundant 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. NSTAR is a Northeast Utilities company (NYS: NU) . For more information, visit www.nstar.com.



NSTAR
Caroline Pretyman, 617-424-2460
caroline.pretyman@nu.com
or
Mike Durand, 508-441-5831
michael.durand@nstar.com

KEYWORDS:   United States  North America  Massachusetts

INDUSTRY KEYWORDS:

The article NSTAR Gas Proposes Lowest Natural Gas Heating Price in 10 Years originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners