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As Snow Falls, So Will Natural Gas Prices

National Grid announced that natural gas prices will decrease this winter, resulting in a savings of about 8 percent for the average gas customer.

Heat with natural gas? There's some good news — natural gas prices are heading down after the state Public Utilities Commission approved new, lower rates for National Grid customers.

In a release, National Grid said the average savings will be about 8 percent for a customer, or more than $113 over the next year.

“This is more good news for our local customers and it’s right on time for the winter heating season,” said Timothy F. Horan, president of National Grid in Rhode Island. “It’s the second significant natural gas rate reduction for the community in as many years.”

Last year the company reduced natural gas rates by 9.3 percent.

The utility said that the bulk of the rate decrease comes from lower commodity prices. The rest of it comes from "lowering some of the charges related to the operation of the distribution system," the company said.

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