LI homeowners to see lower heating bills

Long Islanders who use natural gas to heat their homes may soon see a welcome reduction in price. According to National Grid, the falling market price of natural gas will result in a 25 percent reduction

News 12 Staff

Apr 9, 2009, 4:47 PM

Updated 5,574 days ago

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Long Islanders who use natural gas to heat their homes may soon see a welcome reduction in price.
According to National Grid, the falling market price of natural gas will result in a 25 percent reduction for its customers beginning next month. The director of National Grid's gas distribution and pricing says the company is hedging between now and winter to lock in at the current lower price, this way customers will not pay more when it counts.
Dr. Matthew Cordaro, an energy analyst, says, "Commodity costs in general are coming down largely because of the recessionary economy we're seeing right now."
National Grid says last summer residents paid on average a $1.18 per therm for natural gas, but soon the price will be only 56 cents plus the delivery fee.


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