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National Fuel Gas Distribution Corp. announced a 4.4% cut in delivered natural gas prices effective Tuesday, reducing a typical household bill from $71.71 to $68.54 per month. The utility serves about 740,000 customers in western New York and northwestern Pennsylvania.
It attributed the decline to low market prices driven by large Marcellus Shale supply.
Abundant Marcellus output keeps Northeast wholesale gas prices weak, which passes through to lower retail bills. This reflects continued bearish pressure on US gas supply costs.
goerie.comJim Martin ErieOct 31, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
