Frankfort: Kentucky residents who heat their homes with natural gas will see much lower prices at the start of the 2015-16 heating season than they did a year ago, the Kentucky Public Service Commission said Tuesday.
Gas prices are down by more than a third from this time last year, and have fallen by more than two-thirds from the peak reached in 2008, the PSC said.
On average, Kentucky customers can expect their total gas bills to be about 21 percent less in November than a year ago, based on consumption of 10,000 cubic feet of natural gas. The average total bill for 10,000 cubic feet — including base rates — is projected to be $83.74.
“Development of new sources of natural gas has produced a long-term decline in prices,” PSC chairman Jim Gardner said. “The supply has kept pace with higher demand from both an improving economy and greater use of natural gas to fuel electric power plants.”