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Natural gas prices, bills take big dip

A significant drop in commodity prices for natural gas due to the recession has left many locals with dramatically smaller gas bills this winter. That has created a perfect storm, say officials with Union Gas.

A significant drop in commodity prices for natural gas due to the recession has left many locals with dramatically smaller gas bills this winter.

That has created a perfect storm, say officials with Union Gas.

Glenn Burton, district manager at Union Gas, said he has never seen natural gas rates this low and adds customers are paying less today than they were 10 years ago. Just four years ago, customers were paying 41 cents per cubic metre.

The price was still 31 cents at this time last year, and now customers are paying eight cents per cubic metre.

Union Gas officials speculate the price will be on a quarterly basis, so customers will continue to enjoy the lower rate until at least the end of March.

Burton added that it is believed there is an abundant supply and lower demand for natural gas, which could keep prices low for the foreseeable future.





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