Natural gas prices plunge 8 percent [Erie Times-News]

Customers of National Fuel Gas Distribution Corp. will head into the fall heating season — at least the early part of it — with the promise of lower gas prices.

Effective Thursday, the cost of natural gas supplied by the utility for the next three months will fall 8.24 percent. The adjustment decreases the monthly bill of a typical customer, one with annual usage of 100,300 cubic feet of gas, by $6.15, from $74.61 to $68.46.

Pennsylvania utilities are required to pass along the cost of gas to consumers dollar-for-dollar without making a profit. Those costs can be adjusted every three months. The next opportunity to adjust gas cost charges is Nov. 1.

Because of expanded drilling and exploration in the Marcellus and Utica shale, much of it in this region, natural gas prices are near an 11-year low.


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