Consumers Energy customers will pay an average of $3.47 per thousand cubic feet of natural gas or about $1.30 less than a year ago — the lowest price for natural gas in 14 years, the Jackson-based utility announced today.
“The average household that we serve will pay about $2 a day over the next year for natural gas,” says Tim Sparks, Consumers Energy’s vice president of energy supply operations. “We’re pleased to provide natural gas for such a low price because that produces savings that people can spend on themselves while continuing to boost Michigan’s economy.”
Sparks says natural gas is 61 percent below the price customers paid in April 2006 with prices dropping a little under $1 each year from the $9 per cubic foot customers paid since then.
Consumers Energy purchases, stores, and delivers natural gas to about 1.7 million homes and businesses in Michigan. Sparks says the company purchases gas in the summer, when prices tend to be lower, and pumps it into 15 underground storage fields across the state. As a result, Consumers Energy doesn’t need to go into the market to buy as much gas when prices are high.
According to Consumers Energy, customers will have the lowest natural gas price of any Michigan energy provider in April.