Utility Customers Expected To Pay Much Less This Winter

DENVER – Xcel Energy projects an eleven percent drop in residential customers’ heating bills this winter compared to last winter amid lower natural gas prices. The projections for October through March were based on estimated gas costs and use in December. Future market conditions, pricing and weather patterns could affect actual bills. Also yesterday, Xcel filed a natural gas cost adjustment for October with state regulators. Xcel proposed residential natural gas prices of 31-point-6 cents per them. That’s a ten percent drop from October 2006. Xcel attributes the lower prices to high levels of natural gas in storage and excess regional supply, along with a lack of hurricane weather in Gulf Coast production areas.