US-based power and natural gas utility Ameren Illinois Utilities has announced that its natural gas customers will benefit from another drop in the cost of natural gas.
The company has said that the continued decline in the cost of natural gas is a reflection of weak global demand for energy that has led to declines in the market prices of both crude oil and natural gas.
The cost of natural gas delivered to residential customers during April 2009 will be much lower than the price paid in March 2009. Natural gas prices for April 2009 are as follows: AmerenCILCO – 0.55 per therm as compared to 0.64 in March 2009, AmerenCIPS – 0.58 per therm as compared to 0.68 in March 2009, and AmerenIP – 0.57 per therm as compared to 0.64 in March 2009, reflecting decreases of 14, 15 and 11 respectively.
Scott Glaeser, vice president of gas supply and system control at Ameren Illinois Utilities, said: Natural gas prices continue to decline in the US due to deteriorating industrial and power generation demand for the fuel. However, weak natural gas prices have driven gas producers to cut exploration budgets and reduce drilling operations which will impact supply availability.
