NY Customers See 50% Price Decrease from PA Marcellus Gas
Utility customers of Corning Natural Gas Corp. in New York State’s Finger Lakes region can thank their neighbors south of the border in Pennsylvania that they are now paying 50 percent less for their natural gas than they paid just one year ago. And they can also thank the energy companies who use hydraulic fracturing in the Marcellus Shale.
Corning Natural Gas Corp. customers are paying less for gas now than they have in a decade, and commodity costs are expected to remain low as the company begins purchasing gas for next winter.
CNG has been acquiring gas for about $3 per 1,000 cubic feet, down from $7-8 a year ago and from more than $10 a few years ago, company Vice President Jerry Sleve said. Gas prices have not been in the $3 range since early last decade, Sleve said.
“Whatever the cost of gas was last year, customers are probably paying at least 50 percent less,” Sleve said.
Lower prices have been attributed to a mild winter – a lower demand and a higher supply. Specifically for CNG, the company has tapped into Marcellus Shale wells in Pennsylvania, which generally offer cheaper prices. Also, locally produced gas costs far less to transport.*
Too bad New York State is still faffing around (as my Brit friends would say) when it comes to fracking. In the meantime, let’s hope PA continues to be willing to send its cheap Marcellus gas north.
*Steuben Courier (Apr 9, 2012) – Corning Natural Gas prices drop, should remain low
This is the easy way to get rid of the anti ranting. Since articles like these are hitting the news everywhere lately , I haven’t heard a peep out of JW,or any other Anti generally ranting their nothingness on this site.. I guess she is enjoying the “huge ” savings in her bills and probably flew on one of those dirty airplanes to a sunny beach and spend those savings.lol exdent11, hows is that for your bottom line? I guess dropping $25,000 on Solar panels to cover your roof isn’t the popular choice among most consumers out there. like I said before, the price of NG will be fairly low for years to come, and very abundant so “All” of us will experience and enjoy these savings. I saw on CNBC last night with Rick Santelli, how to transfer a truck over to LNG, right now it will cost $ 8000.00 to have it professionally installed .It can be completed in 4 hours. He said LNG goes right now between .66 to $1.60 per gallon( depending on the amount purchased)., for about $3500.00 you can have a pump set up at your home, so you can pump your own gas!! there are not enough LNG stations ( yet). If our slow government wakes up, and gives tax incentives, rebates, etc., to move this inevitability forward the energy revolution engine will churn and this country will be back in 5 years of less. Hey, exdent11 doesn’t this make much more sense, from a financial investment standpoint per home, to serious savings with much less recovery time? I await your much anticipated response.