Andy Maykuth of the Inquirer reports ( 23 December 2012) falling natural gas prices in southeast Pennsylvania. Increased supply has led, in this case, to lower prices for residential and business consumers.
“The five big regional utilities that serve Pennsylvania and New Jersey customers have reduced their prices on the gas portion of bills by amounts ranging from 37 percent to 52 percent since Dec. 1, 2008, reflecting the steady fall in market prices that experts attribute to new supplies of shale gas.
For the 500,000 customers of Philadelphia Gas Works, the cost of gas has decreased by more than half since December 2008, from $1.27 per hundred cubic feet (ccf) to 61 cents.
What’s that mean to a typical PGW customer who uses 900 ccf of natural gas a year? Annual savings of $594.’