It has been reported that Ameren Illinois customers can expect another year of natural gas prices lower than the national average during the 2014 – 2015 heating season. Ken Dothage, Ameren Illinois, Gas Supply Director said, ‘we are fully prepared for the winter season and expect stable prices for Ameren Illinois customers. Because of our price hedging and storage strategies along with the continued increase in natural gas production in the US, we anticipate that the gas supply portion of our customers’ bills will again be lower than the national average.
During the 2013 – 2014 heating period, which was 15% colder than average for the state, Ameren Illinois customers paid an average of US$ 0.54 /therm. Ameren Illinois anticipates 2014 – 2015 heating season average prices to remain low in a range of US$ 0.53 – 0.55 /therm.
Dothage continued, ‘we buy a significant amount of natural gas in the summer months when prices are typically lower and store it for use by our customers in the winter. Those savings are passed on to our customers. While the amount a customer pays will depend on winter temperatures and the actual amount of energy a customer uses, we have taken steps to insulate them from price volatility on the supply side.’
Dothage also stressed that the company has adequate natural gas supplies to meet customer needs during the upcoming heating season. This winter, it will control 38.6 billion ft3 of working gas volumes through its 12 natural gas storage fields and storage capacity it leases from interstate pipelines. Working gas is the amount of natural gas which can be withdrawn in a winter season.
Edited from press release by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24102014/lower-than-average-us-gas/