Reply #58: Natural gas prices may see 58 percent leap this winter [View All]

[54anickel]

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1705517

http://www.zwire.com/site/printerFriendly.cfm?brd=2703&dept_id=555106&newsid=15042369

If you're experiencing sticker shock at the gas pump this summer, just wait for your winter heating bill.

A 58 percent increase in natural gas prices is projected during the November through February winter season, according to a spokesman for MidAmerican Energy. Aquila wasn't projecting prices that far in advance, but spokesman Matt O'Reilly said August costs are about about 12 percent above last year.

Natural gas for the November through February period was trading on the New York Mercantile Exchange last week at $10.34 per mmbtu - the measurement unit used to purchase natural gas - compared to $6.53 last year, according to Matt Reinders, a spokesman for MidAmerican Energy. That's a 58 percent increase.

At the same time, September natural gas was trading at $9.59 per mmbtu, compared to $5.54 at the same time last year, Reinders said. That's a 73 percent increase for the shorter period.

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