Natural-gas Price Drop Could Mean Low Heat Bills

By: Associated Press Email
By: Associated Press Email

Energy companies predict low natural gas prices will cut heating bills this winter, but the biggest savings may be to manufacturers and farmers.

MidAmerican Energy Co. says its heating bills will drop by about 40 percent. Alliant Energy Corp. says its bills will fall by about 20 percent.

Natural gas prices have hit a seven-year low. Contracts for October delivery were selling for $2.50 per 1,000 cubic feet on the New York Mercantile Exchange last week, the lowest since 2002.

Prices for fertilizer, which is made using natural gas, have dropped from an average of about $1,000 per ton last year to about $400 per ton this year.

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