Niagara Mohawk natural gas customers could see a reduction of 10% in their total natural gas bill this winter versus last year, while electric customers are projected to see bills that are 3% to 9% lower than last winter, depending on where they live, National Grid said in a forecast issued yesterday

"The potential decrease in natural gas bills is the result of current forecasts that call for lower natural gas supply prices on the wholesale market. A typical residential heating customer who uses 711 therms during a normal heating season (November to March) is forecasted to pay about $554 during the five-month period, or $65 less than last year for the same amount of usage," NiMo said.

"The forecasted lower electricity supply costs for residential and small commercial customers assumes normal winter weather and typical usage. The decrease is in part due to additional steps the company has taken to further hedge – or lock in -- electricity supply prices to reduce monthly volatility in customer bills. National Grid also has asked the New York Public Service Commission to approve a mechanism that would allow more flexibility in how the company recovers supply costs that turn out to be significantly higher than those forecasted for residential and small commercial customers. If the request is approved, National Grid could collect the higher wholesale prices over a number of months, instead of in a single month, to reduce customer impact," NiMo said.

"National Grid encourages customers to shop for the supplier that best fits their energy and lifestyle needs. As with any purchase, customers should research alternative suppliers, compare prices and fully understand contract terms before signing," NiMo said.

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New York   NiMo   National Grid   Niagara Mohawk  

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