New Jersey Regulators Slash Natural Gas Prices
NEWARK, N.J. (AP) ¿ New Jersey utility regulators approved the largest reduction in natural gas prices in state history Wednesday.
The state Board of Public Utilities voted unanimously to share the savings from lower wholesale rates with retail consumers. The lower prices are effective immediately and are expected save the typical household $262 to $477 a year ¿ a reduction of 23 percent to 37 percent.
"These are significant rate reductions that will provide immediate relief for customers struggling with the effects of the worldwide economic downturn," said Jeanne Fox, president of the state board that regulates utility rates.The savings come as consumers deal with the most severe U.S. economic contraction since The Great Depression. Demand for coal, natural gas and oil has fallen as factory work has slowed and consumers have grown thrifty. The mild summer and prospect of a warm winter also have played into fuel supply and demand. A typical New Jersey home that uses 1,000 therms of natural gas ¿ a standard measure of heat ¿ paid between $1,671 and $1,743 last year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV