March 28, 2016 - 6:00 AM EDT
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Consumers Energy Natural Gas Price Falls to Lowest Level in Nearly Two Decades

Continues Decade of Falling Costs for Michigan Homes, Businesses

JACKSON, Mich., March 28, 2016 /PRNewswire/ -- You have to go back 18 years to find the last time Consumers Energy charged as little for natural gas, a success story that continues to put money into the pockets of Michigan business owners and residents.

"We are committed to delivering natural gas safely, reliably and affordably, knowing that our work to reduce costs helps fuel Michigan's economy," said Tim Sparks, Consumers Energy's vice president of energy supply operations. "The price for natural gas that we'll put into effect in April continues a decade of falling costs, allowing Michigan residents to put more money toward their household budgets and other needs."

April's natural gas commodity price -- $2.54 per 1,000 cubic feet – is the lowest since March 1998.

Consumers Energy's announcement follows a winter in which Michigan residents paid less to serve their businesses and homes. The energy provider projects that the average household will have paid $250 less this winter for natural gas than the previous year.

"Lower natural gas costs from Consumers Energy are helping businesses in Oakland County and throughout Michigan. Lower energy costs can play a role in business expansion, job creation and drive positive economic development," said Sheri Heiney, president of the Rochester Chamber of Commerce.

Consumers Energy has lowered natural gas costs with the help of its underground gas storage system, the largest used exclusively for distribution of any in the nation. The system of 15 underground storage fields allows the energy provider to buy gas when it costs less, typically in the summer, for use by customers during the colder winter months.

"We are proud that our natural gas prices are low, which helps our customers save money when they choose us as their gas supplier," Sparks said. "As a Michigan company, we are committed to the success of our customers and Michigan's economy. By lowering energy costs, we are helping Michigan companies compete and create jobs right here at home."

Consumers Energy encourages customers to take steps to reduce energy waste at their residence and business. Find more than 100 tips on reducing energy waste, and more, at www.ConsumersEnergy.com/energyanswers.

Consumers Energy, Michigan's largest utility, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and electricity to 6.7 million of the state's 10 million residents in all 68 Lower Peninsula counties.

Falling costs

NATURAL GAS PRICE: A look at Consumers Energy's natural gas commodity price by year (per thousand cubic feet):

2016

$2.54


2011

$6.35

2015

$3.47


2010

$6.96

2014

$4.75


2009

$7.31

2013

$4.62


2008

$8.96

2012

$5.26


2007

$8.16

LEARN MORE: Learn about the value of natural gas from Consumers Energy: www.ConsumersEnergy.com/gascenter  

COMPARE COSTS: The Michigan Public Service Commission helps people compare gas prices between Consumers Energy and others: www.Michigan.gov/CompareMIGas

For more information about Consumers Energy, go to www.ConsumersEnergy.com.

Check out Consumers Energy on Social Media
Facebook: https://www.facebook.com/consumersenergymichigan
Twitter: https://twitter.com/consumersenergy  
YouTube: https://www.youtube.com/user/consumersenergy
Flickr: https://www.flickr.com/photos/consumersenergy/

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/consumers-energy-natural-gas-price-falls-to-lowest-level-in-nearly-two-decades-300241676.html

SOURCE Consumers Energy


Source: PR Newswire (March 28, 2016 - 6:00 AM EDT)

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