Energy
Natural Gas Price to Consumers Drops Off the Table (NST)
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Natural gas prices to some consumers in Massachusetts could fall 70% this summer. NSTAR (NYSE: NST) has filed a proposal with the Massachusetts public utilities regulator to reduce its summer rates from last summer’s $1.30/therm to a summer 2009 rate of $0.38/therm.
The continued decline of natural gas prices gets the credit for the price reduction. As with most natural gas suppliers, the cost of natural gas to NSTAR’s customers does not include a profit for the company. It is simply a pass-through cost. That’s why the rate proposal is having virtually no impact on the company’s share price today. Consumers will pay less for gas, but NSTAR’s profits will remain the same.
Paul Ausick
March 17, 2009
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