October 25, 2014
As the weather turns colder there may be some good news for consumers as they begin to crank up the heat in their houses.
The US Energy Department now says consumers can expect to see a 13 percent decrease in the cost of natural gas, and a slight increase for home heating oil. But those figures may be a bit different here in the Truckee Meadows.
Here's the problem with natural gas Sierra Pacific has to get any rate increases or decreases approved by the Nevada Public Utilities Commission.
In may when Natural Gas prices were near record highs Sierra Pacific estimated a 10 percent increase for the coming winter and asked to pass that along to consumers.
Sierra Pacific also buys supplies months ahead of time. But there is still hope. Now six months later prices have dropped. So there's a ray of hope.
Bottom line, Sierra Pacific is crunching the numbers., and hopes the once estimated price increase won't be needed. When it comes to heating oil, there's good news. Allied Washoe says heating oil prices are 50-cents cheaper today than the same time last year. That's about a 20-percnt decrease.