Biz Buzz
By Jim Martin, Doug Oathout Erie Times-News staff bloggers
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Posted: January 31st, 2013
Natural gas prices decline

Maybe this news will take some of the sting out of that cold wind whipping around outside: Natural gas customers who buy gas from National Fuel Gas Distribution Corp. will see their bills decline 6.7 percent, effective Friday.

The decrease will lower the monthly bill of a typical customer — one who uses 90,000 cubic feet of gas a year — from $76.61 to $71.45 a month.

Earlier this year, the utility had filed a forecast with the state Public Utility Commission that predicted gas prices would rise 9.2 percent by August.

What’s changed?

Sandra James, a spokeswoman for the company, said, “Continued decreases in the market price of natural gas due, in large part, to the increasing Marcellus Shale gas production, make this quarterly adjustment possible.”

For more coverage, turn to Friday’s Erie Times-News and

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