Natural gas prices down 30 percent since last month

• Marie Cusick
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  Marie Cusick was the Harrisburg reporter for StateImpact Pennsylvania.

The Associated Press reports natural gas has dropped 30 percent in the past month, which means consumers can expect lower heating bills and electricity prices.
The price of gas was at $3.15 per 1,000 cubic feet on Tuesday– down from nearly $4.50 in late November.
From the AP:

A warm December and plentiful supplies are behind the plunge, which comes at a time when natural gas prices usually rise.
Natural gas is used by half of the nation’s households for heating and to generate 26 percent of the nation’s electricity.
Natural gas prices rose during a frigid November. But December warmed up, and temperatures for the rest of the winter are expected to be close to normal. That could keep prices low through the spring, analysts expect.

The extreme cold weather associated with last winter’s polar vortex caused the reverse– gas prices surged. Energy companies say increasing pipeline capacity, particularly in the Northeastern U.S., will cut down on the price volatility of natural gas.

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