Friday
May 29, 2009

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Electricity, natural gas prices decline in Central Hudson territory

POUGHKEEPSIE – The cost of supplying electricity and natural gas to Central Hudson Gas and Electric Corporation customers is down and that has the effect of lowering their bills.

Those supply prices generally represent the largest component of utility bills, about two-thirds, company officials said Thursday.

Central Hudson spokesman John Maserjian said the lower supply costs have dropped since the high energy prices of last summer.

“The supply price, or the price we pay on the market for electricity has come down 50 percent since its peak last summer, but it’s still down by 39 percent compared to one year ago. And for natural gas, we are finding that the supply prices decline have been more dramatic, 64 percent decline since last summer and 57 percent less than last spring,” he said.

Utility President and CEO Carl Meyer said while it is impossible to predict future energy prices, the present development is good news.

 


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