Good News for Heating Billpayers

SEPTEMBER 28, 2006 - Posted at 4:27 p.m. CDT

WASHINGTON - Falling prices at the gasoline pump isn't the only good news for consumers on the energy front. 

Natural gas producers say consumers should see lower heating bills this winter.

That's because there's plenty of natural gas in storage and more is being produced.

The Natural Gas Supply Association cites record supplies of the fuel in storage, well above normal levels as the winter heating season approaches.  It notes that wholesale prices already have been declining significantly.

A year ago, the industry faced major losses of supply because of Hurricane Katrina.  At that time, wholesale prices going into the winter were around $12,000 per cubic feet.  Recently, the prices dipped below $4.50 per thousand cubic feet at the wholesale level.

(Copyright 2006 by The Associated Press.  All Rights Reserved.)