October 2, 2014

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Ohio natural gas prices will be falling

CLEVELAND — Customers who buy natural gas from two Ohio providers will pay less in February thanks to high production from shale gas wells and other factors.

The Plain Dealer reports that rates will be lower for customers who buy natural gas through Dominion East Ohio and Columbia Gas of Ohio’s standard choice offer.

Beginning Wednesday, Columbia’s price falls 2.5 percent to 47.6 cents per 100 cubic feet. That price will run to Feb. 27. On Feb. 13, Dominion’s price will fall 3 percent to $3.83 per 1,000 cubic feet.

The monthly variable rates are linked to the price of natural gas contracts traded on the New York Mercantile Exchange. Since November, contract the prices have closed down at the end of each month.