Merry Christmas from the Shale Gas Revolution
3. "If you're a Connecticut Light & Power customer you got a little something extra in your stocking this holiday season, as the state's largest electrical company announced Thursday that most residential customers will see a 7.5 percent rate decease on their bills starting in January."
"The lower rates are primarily due to falling natural gas prices, which affects how much we pay for power," said Jim Muntz, CL&P's acting president. "This is very positive news not only for our residential customers, but for all of our Standard Service customers, who will see reductions in their rates."
4. "New Jersey's PSE&G has announced that it is lowering residential gas bills by an additional 4.6 percent, or nearly $8.53 per winter month for the typical residential customer.
The utility said the action represents the eighth decrease in a row for residential customers, for a total of more than $614, or 35 percent, in savings since January 2009. The price reduction takes effect Dec. 1.
PSE&G attributed the cost savings and rate reductions to lower market prices for natural gas, which are partially due to the availability of abundant and lower cost shale gas."
MP: The chart above displays the CPI component: "Utility (piped) gas service, U.S. city average," and shows that this measure of natural gas prices for residential customers this November are at the lowest level for that month since 2003. In contrast, over that same period, the overall CPI and the CPI for food have increased by 22%, and the CPI for gasoline has increased 120%.