The global market meltdown has this financial benefit: Tumbling energy prices mean that residential natural gas users handled by SoCal’s Gas Go. will pay this month the lowest amount for the fuel since October 2006.
The Gas Co. pegs a slice of consumers’ November bills to commodity-market prices equal to 45.6 cents per therm, an industry measure of gas volume. (A typical family uses 75 therms per month in the winter.)
November’s pricing is down 19% from a year ago — and a stunning 63% below July’s peak pricing as energy prices were pushed up to bubble-like highs. (Click on chart for bigger version!)
More good news for heating fuel customers is the utility’s winter bill forecast: “about the same or slightly lower this winter vs. last winter. Mild weather, adequate inventories of natural gas in storage and minimal production losses from hurricanes have helped natural gas prices to decline from historical peak prices in July 2008.”
The Gas Co. expects a typical household using 75 therms to see winter bills run between $75 and $85 per month vs. an average $89 a month during last winter.
Other O.C. business news…
The high fuel cost during the summer, I expected to pay double to heat the home this winter. This will make it a little easier for the holidays. This is a gift. Sadly, I expect natural gas prices to be much higher next year. The lower gas prices should provide some need relief to many of the struggling businesses in O.C.
It’ll be interesting to see where these energy bubble prices go. I’m wondering if we’ll be able to watch oil and gas (among others) and possibly get an idea of what housing will be doing as well (esp if there is an undershoot on oil/gas/etc).
HOT AIR FOR EVERYONE!!!!!!!!!!!
The OC’s Biblical Housing implosion continues……………………………………………. Today… brought to you by the your local Gas Company !!
Downey Savings continues to be on the morphine drip.
It’s now at 21 cents/ share, down 32% just today.
http://finance.yahoo.com/q?s=dsl
there goes another Orange County company.
Expect more layoffs.
So why isn’t it cold?
Why do we need heat in SO CAIL??? iT IS 95 DEG out side in the middle of nov…..
It might be 95-100 at christmas time so we can all go to the beach for christmas…….
It will drop even lower if this heat keeps up because no one will be using there heaters because of the heat out side the house is 95…..