Natural gas prices lowest in over seven years: good news for homeowners

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Natural gas prices are at their lowest in over seven years and that’s great news for Wisconsinites who are scraping up the money to heat their homes this winter.

Gas futures on the New York Mercantile Exchange are trading for only about 20 percent of last July’s costs.

Electric customers are getting somewhat lower bills, since many power plants are fueled by natural gas.

And while utilities say anything can happen, they’re forecasting much lower prices for natural gas this winter.

Alliant Energy of Madison predicts a 20-25 percent decline. Wisconsin Public Service of Green Bay expects a 15-20 percent price drop, and Madison Gas and Electric projects a 15-percent decline.

We Energies – the state’s largest natural gas supplier has not given its prediction yet.

But spokesman Brian Manthey says all the signs point to a great price break.

We Energies normally puts out it cost prediction in October.

Tags: natural gas prices, wisconsin, home, heating