PARK RIDGE, NJ -- (MARKET WIRE) -- 11/30/2004 -- As Americans enter the winter season, it may come as "cold comfort" that a recent survey conducted by NUS Consulting found the average price of natural gas nationwide increased by 4.3 percent from the period of September 2003 to September 2004.
The annual survey by the NUS Consulting Group of Park Ridge, NJ, an independent consulting company, found that, depending upon rate classification, the average price of natural gas in the United States ranged between 65.2 cents to 76.4 cents per therm in September 2004 compared with 61.8 cents to 75.5 cents per therm in September 2003. The survey sampled 12 investor-owned utility companies in the United States using models of monthly usage ranging between 100,000 therms to 1,000,000 therms encompassing both firm and interruptible supplies.
The survey found customers of PSE&G in New Jersey paid the highest rates for their natural gas supplies with firm prices reported between 92.2 cents to $1.18 per therm. Following PSE&G in terms of highest pricing was TXU Gas & Electric in Texas with firm prices ranging between 67.0 cents to 88.4 cents per therm. Consumers Energy in Michigan underwent the largest single increase in natural gas pricing as some customers witnessed their costs increasing by nearly 40 percent.
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The survey found the lowest priced utilities included Northern Illinois Gas with firm prices ranging between 59.8 cents to 64.8 cents per therm and Southern California Gas reporting between 62.5 cents to 65.1 cents per therm. Certain natural gas customers in Pacific Gas & Electric's territory, in Northern California, experienced the most significant drop in pricing with an annual decrease reported at 10.4 percent.
"I believe this survey confirms what many consumers already knew -- natural gas prices are reaching historic levels," said Richard Soultanian, co-president of the NUS Consulting Group. "It is also important to bear in mind that the average increase in pricing of 4.3 percent reported in this year's survey is on top of the unprecedented 63 percent increase experienced between September 2002 to September 2003!"
He concluded by saying, "In the United States as throughout the world, the demand for natural gas is steadily increasing, and as supply grows ever tighter, a return to low prices and abundant supplies is almost certainly out of the question."
The world's leading utility cost management consultants, NUS Consulting Group is located in Park Ridge, New Jersey. The Company provides energy and telecommunication cost audit, analysis and consulting services to industrial and commercial organizations. More information can be accessed at www.nusconsulting.com.
Media Contacts: David Brown NUS Consulting (201) 391-4300 ext. 105 dbrown@nusconsulting.com Jeanne Achille The Devon Group (732) 542-2000, ext. 11 jeanne@devonpr.comSOURCE: NUS Consulting