Winter heating costs projected

We recently released our winter heating cost estimate. Based on natural gas already purchased and the current spot market price, the price for natural gas this winter is projected to be 8 percent lower than last year. The cost of the commodity is shown on the customer bill – without any markup.

Based on normal winter weather and the price of natural gas remaining where it is today on the spot market, it is estimated that our average residential customer will pay $548 in winter heating costs -- 9 percent ($45) more than last winter. That’s because customers could use more natural gas for heating if the weather is normal. Last winter, our region experienced warmer-than-normal temperatures.

The projected costs for customers for the upcoming heating season also would be:

• Less than nine of the past 10 winters. 
• 22 percent ($154) less than the most recent five-year average ($702). 
• 24 percent ($176) less than the most recent 10-year average ($724). 
• 38 percent ($330) less than the most expensive winter (2007/08 - $878).