Milder winter results in natural gas heating savings

A relatively mild winter and the lowest natural gas price in nearly 15 years are working together to reduce this winter's heating bills for homes and businesses that Consumers Energy serves. The energy provider announced today that the average household could pay US$200 less for natural gas this winter compared to a year ago.

"Michigan homes and businesses should continue to enjoy savings on their heating bills this winter," said Tim Sparks, Consumers Energy's Vice President of energy supply operations. "The natural gas price we offer our customers is almost 65% lower than a decade ago, and it has continued to fall in each of the last four months."

Some facts about heating costs for Consumers Energy customers:

• Households paid US$70 less, on average, for their heating bills in October and November, compared to the same two months in 2014. Final figures for December are not yet available.
• Customers are paying almost 65% less for natural gas this month than they were in January 2006.
• Consumers Energy has lowered the price of natural gas each month since September, when it was US$3.36/1000 ft³ to US$3.16/1000 ft³ this month. The last time the price of natural gas was this low was in April 2001.

Consumers Energy uses a system of 15 underground fields to store natural gas, the largest of any natural gas distribution company in the nation, to help keep prices low. The company buys gas in the summer, when prices are lower, for homes and businesses to use during the cold winter months.

"We are a Michigan company, celebrating our 130th anniversary serving our state this year, and we are committed to the success of Michigan's economy," Sparks said. "By lowering energy costs, we are helping households to live affordably and Michigan companies to create jobs right here at home."

Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/05012016/milder-winter-results-in-natural-gas-heating-savings-2061/