Winter gas heating prices starting out low, expected to rise
If you heat your home with natural gas, you might be getting some pretty low bills this month. The Associated Press reports natural gas prices for six of the 10 biggest utilities in Pennsylvania are at their lowest in a decade.
More from the Associated Press:
Utilities credit the huge volume of gas being produced from the Marcellus Shale formation underneath Pennsylvania for pushing down prices. In most cases, prices this December are less than half what they were in December 2008, when the drilling boom was just beginning.
Peco’s three-month winter price, which took effect Sunday, means a customer will see an average monthly bill of just under $160, or almost $3 less per month than last winter, spokesman Ben Armstrong said.
The utility is reaching out to people who live along gas mains to encourage them to switch. Incentives include helping foot the cost to extend a line to a home and appliance rebates, Armstrong said.
According to the state Public Utility Commission, about half of all Pennsylvania households use natural gas for heating, with more customers switching from electricity and oil.
But don’t expect the low prices to last all winter long. The federal Energy Information Administration is predicting that as the price of natural gas goes up, it’ll cost about $80 more per household this year, compared to last year.