Albuquerque Journal (Albuquerque, NM)

February Gas Costs To Fall, PNM Says.

Byline: Rosalie Rayburn Journal Staff Writer

Good news on the natural gas front: Dropping prices will translate into lower customer costs for February use.

Public Service Company of New Mexico says the February price per therm, or billable unit, is 57.42 cents, compared with 66.75 cents in January.

PNM had earlier projected the price to rise to 75.85 cents per therm for February but revised the projection because of a decline in spot market prices.

Analysts at the Energy Information Administration attribute the price drop to a spell of warmer weather in the Midwest during January, which lessened demand on natural gas supplies.

"This happens once in awhile when we're coming out of winter into warmer weather," said PNM spokeswoman Julie McCabe, adding that estimates may have to be revised up or down for March depending on market developments. …

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