Falling Natural Gas Prices are Good News for Consumers

September 4, 2009

Fort Worth Star-Telegram

Jack Z. Smith

There’s a new Texas two-step.

Natural gas prices and retail electric rates are moving in tandem — steadily downward — a trend that could leave many energy consumers dancing with delight.

As of Thursday afternoon, powertochoose.com, the comparison shopping site overseen by the Texas Public Utility Commission, showed 31 retail electric-rate plans priced below 10 cents per kilowatt-hour in the Oncor Electric Delivery service area that includes North Texas.

There were 33 plans priced from 10 cents to 10.9 cents per kwh.

Thanks to plunging natural gas prices, many Texans can secure electric rates that are 25 to 40 percent lower than what they were paying last summer. Rates had soared as a result of spiraling prices for natural gas, which is burned to generate much of Texas’ electricity.