March 15, 2004
NSTAR is seeking to lower prices for its natural gas customers throughout the state. In a document filed today with the Massachusetts Department of Telecommunications and Energy (DTE), NSTAR Gas proposes to reduce its Cost of Gas Adjustment to 59.76 cents per therm from the current price of 89.25 cents per therm. If approved, the reduced Cost of Gas Adjustment (CGA) will save the average NSTAR Gas heating customers $11.20 per month when compared to the current cost of gas, and about $8.40 per month compared to last summer. The proposed new price would be effective May 1, 2004.
"We are pleased to announce this dramatic reduction in the cost of natural gas for our customers," said Thomas J. May, NSTAR Chairman, President and CEO. "This has been a difficult winter for all energy users and we’re confident this drop in the price of natural gas will be welcomed news."
The Cost of Gas Adjustment reflects a six-month forecast of the price of natural gas, with no profit made by NSTAR on this charge. The proposed CGA is about 33 percent lower than the current charge, and 27 percent lower than last summer. The proposed reduction reflects normal differences between winter and summer prices, and the continuing volatility of natural gas prices on the New York Mercantile Exchange (NYMEX).
If the proposed CGA is approved by the DTE, the average NSTAR Gas heating customer, using 38 therms of gas per month between May and October, will pay approximately $45.00 per month. The average NSTAR Gas non-heating customer, using 12 therms of gas per month, will pay approximately $21.00 per month.
NSTAR transmits and delivers electricity and natural gas
to 1.4 million customers in Eastern and Central Massachusetts, including over one million electric customers in 81 communities and nearly 300,000 gas customers in 51 communities. For more information about NSTAR visit www.nstar.com.
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