Natural gas prices and retail electric rates are moving in tandem — steadily downward.
Thanks to plunging natural gas prices, many Texans can secure electric rates that are 25 to 40 percent lower than what they were paying last summer. Rates had soared as a result of spiraling prices for natural gas, which is burned to generate much of Texas’ electricity, but now have sunk to their lowest price in more than seven years in futures trading.
This should lower gas prices around the country.
Photo by Michael Connors: morguefile.com