Natural Gas Prices Climb

By Published On: July 3, 2014

This year, California power generators are burning more natural gas and paying more for it than they did the previous two years, according to the Energy Information Administration. California generators burned 256,694 million cubic feet of natural gas from January through April this year. That’s up from 235,354 million cubic feet during the same period in 2013, and 255,553 mcf the same four months in 2012, the administration reported July 1. Meanwhile, what they paid for gas during the first four months of 2014 averaged $5.89/thousand cubic feet, up from $4.42/tcf averaged over the first four months of 2013 and $3.42/tcf over the same period in 2012. Residential customers also are paying more, according to energy agency. During the first four months this year the average California resident paid $11.11/tcf, compared to $9.25/tcf during the first four months of 2013 and $8.74/tcf during the first four months of 2012. Other customers paid more too. Prices rose in California on slightly lower usage during early 2014, according to the administration, and record domestic production as natural gas output hit an all-time high in April of 2,080 billion cubic feet.

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