Fracking gas prices in NJ

[Future Fanatic]

It was really simple query that got me to start this post. Has anyone in NJ seen their natural gas heating bill go down 80% form winter '10-'11 to winter '11-'12? All the other economic lessons have been interesting. It's been fun to see the exposed ignorance.

Thanks again.

The original quote was not correct, sure. But I guess you missed it when I wrote this:

Yes, it should have read:

Jersey relies on fracked well-natural gas to heat much of their homes and businesses... and the supply of gas coming out of the wells dropped the wholesale cost of the gas that is supplied to them 80%.

But of what I wrote that's ALL you've got a beef with?
We're making progress.

The good people of Jersey can STILL thank the decreases(however large) in their natural gas (and it seems electric) bills to the frackers in PA (and all across this great nation), right Tompg? (you keep buyin';they'll keep frackin')


BTW, GREAT advice in the Neversink/wading thread.

[Rusty Spinner]

The good people of Jersey can STILL thank the decreases(however large) in their natural gas (and it seems electric) bills to the frackers in PA (and all across this great nation), right Tompg? (you keep buyin';they'll keep frackin')

I heat with oil, but my electricity here in NJ certainly didn't go down since PA began fracking as fast as they can. And I don't hear my gas using neighbors in our community jumping for joy. But I would be interested in hearing from gas users here in NJ as to their bills. We want cost per unit, not cost of heating your home this past winter vs the winter before it.

[Future Fanatic]

I heat with oil, but my electricity here in NJ certainly didn't go down since PA began fracking as fast as they can. And I don't hear my gas using neighbors in our community jumping for joy. But I would be interested in hearing from gas users here in NJ as to their bills. We want cost per unit, not cost of heating your home this past winter vs the winter before it.

Pete gave us this: Dontcha believe 'im?

Looked at my gas bills...
Ignored "Service Charge" and "Delivery Charge"... (both went up slightly)
Did some arithmetic on the "BGSS Commodity" costs:

April 2011 vs April 2012 - Price per therm went down 9.9%
April 2008 vs April 2012 - Price per therm went down 38.7 %

BTW:
FF, don't quit your day job just yet.
I'm seeing lots of news articles about a "Gas Glut" (they're running out of places to store it). If this trend continues, and the overseas market doesn't provide enough relief, market forces may do what all the "antis" combined couldn't do.

And from the article I posted below ( Electricity Declines 50% as Shale Spurs Natural Gas Glut: Energy - Bloomberg ):

"Mirroring the gas market, wholesale electricity prices have dropped more than 50 percent on average since 2008, and about 10 percent during the fourth quarter of 2011, according to a Jan. 11 research report by Aneesh Prabhu, a New York-based credit analyst with Standard & Poor’s Financial Services LLC. Prices in the west hub of PJM Interconnection LLC, the largest wholesale market in the U.S., declined to about $39 per megawatt hour by December 2011 from $87 in the first quarter of 2008."

[tomfly]

FF I do not know where you get you info on electricity prices here in NJ. My bill has gone up every year. If the price of electricity goes down slightly and the cost of service and transmission go up and decrease in electricity is not enough to off set the increase in services. How does that help anyone? The bottom line is that I have had a steady and substantial increase in charges every year. So you charts and graphs don’t mean a hill of beans to me.

[Future Fanatic]

FF I do not know where you get you info on electricity prices here in NJ. My bill has gone up every year. If the price of electricity goes down slightly and the cost of service and transmission go up and decrease in electricity is not enough to off set the increase in services. How does that help anyone? The bottom line is that I have had a steady and substantial increase in charges every year. So you charts and graphs don’t mean a hill of beans to me.

I don't know how your NJ electric bills are structured but...you can't see a scenario that if your sevice and transmission fees go up(legitimately or otherwise) and the wholesale price of electricity goes UP or stays the same, your bills would have increased?

So, the lower wholesale price of electricity could save you money even though you notice no decrease in your bill.

BTW, how much has the "steady and substantial increase in charges every year" been?