Kentucky's Capitol
(2009-10-30)
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The Kentucky Public Service Commission, which regulates utilities, says home heating bills this winter should be substantially less than last year. That's because natural gas prices have dropped by 50%, thanks to lower demand, steady supply and ample storage.
Photo of Public Service Commission building in Frankfort courtesy PSC (Click image to enlarge)
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Demand for natural gas is down, there's ample supply, storage is at capacity and current prices are 50% lower than a year ago. Andrew Melnykovich of the Public Service Commission says, add it all up, and your heating bill this winter should be lower.
"For somebody using 10,000 cubic feet per month, their overall total gas bill is going to be 39% on average, below where it was at this time last year," said Melnykovych.
The 10% of Kentucky households that use propane and the 3% who use heating oil should also see lower heating bills. Of course, the colder the winter, the higher the costs, so it pays to winterize your home.
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Andrew Melnykovych says, on average, Kentuckians should pay less for natural gas this winter.
"Of course this will change over the course of the heating season," said Melnykovych. "This is just a snapshot because the gas adjustments will change and prices are going to fluctuate somewhat as well. But November to November, for 10,000 cubic feet, the gas bill, on average is going to be 39% less than what it was last year."
Melnykovych says the colder the winter, the higher the rates, so it always pays to winterize your home.
"Caulking around windows and doors, replacing worn weather stripping, sealing up openings," said Melnykovych. "It's also worth noting there are currently both federal and state tax credits for installation of energy efficient windows and doors."
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