Natural Gas News – May 30, 2018

Natural Gas News – May 30, 2018

New Jersey Natural Gas Files to Decrease Rates for the 2018-2019 Winter Heating Season

Business Wire reported: New Jersey Natural Gas (NJNG), the regulated subsidiary of New Jersey Resources (NYSE:NJR), today submitted its annual Basic Gas Supply Service (BGSS) and Conservation Incentive Program (CIP) filing to the New Jersey Board of Public Utilities (BPU) seeking an overall decrease of 3.6 percent for the typical residential heating customers for the 2018-2019 winter heating season. Pending BPU approval, the typical residential heating customer using 1,000 therms a year would see their annual bill go from $1,022.54 to $985.84 effective October 1, 2018, a savings of $36.70. “Today’s filing reflects the impact of last winter’s cold weather, which was 13.3 percent colder than the previous year and 1.5 percent colder than normal,” said Stephen Westhoven, COO of New Jersey Natural Gas. “We are pleased to provide this rate decrease and pass these savings along to our customers. ”In its filing, NJNG is seeking a 5.3 percent decrease for the typical residential heating customer related to its CIP due to the colder weather experienced this past winter heating season. For more on this story visit businesswire.com or click https://bit.ly/2H1ZDyi

Natural Gas Futures Pull Back From 4-Month Highs

Investing reported: Natural gas futures fell on Tuesday, pulling back from a four-month high as updated forecasting models pointed to milder temperatures covering the eastern part of the United States by the second week of June. That should limit early summer cooling demand for the fuel. Front-month U.S. natural gas futures slumped 6.7 cents, or around 2.3%, to $2.896 per million British thermal units (btu) by 9:14AM ET (1314GMT), after hitting a high of $3.000, the strongest since January 31. Futures did not settle on Monday due to the Memorial Day holiday. Natural gas prices have been boosted in recent weeks by forecasts of building heat across major areas of the U.S. For more on this story visit investing.com or click https://bit.ly/2LHX2gD

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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