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News Release
March 31, 2003
FINALLY! April Will Bring Lower Natural Gas Bills
Albuquerque: April showers may bring May flowers,
but April’s typically warmer weather will bring something
else to PNM’s natural gas customers: a lower bill for
the first time in several months.
While natural gas prices remain volatile, they are beginning
to drop. Combined with warming weather, this will produce
substantially lower PNM natural gas bills in April. With average
customer consumption expected to drop to 72 therms in April,
and an April price of 52.58 cents per therm, the average PNM
customer will pay $61.14 for natural gas next month –
down from an average monthly bill of about $105 for January,
February and March.
“The lower natural gas bills we typically see in spring
are finally here,” said Melvin Christopher, PNM vice
president of operations and engineering.
By state law, PNM purchases natural gas on the open market
and passes the cost along to customers without markup.
War and extreme weather have kept natural gas prices volatile,
Christopher said. But even with that volatility and high price
trends, customer natural gas bills should continue to drop
in the coming months. The average PNM customer uses 43 therms
of natural gas in May, 25 therms in June, 20 therms in July
and 18 therms in August.
Note to Reporters and Assignment Editors: PNM issues
monthly press releases on natural gas prices only during the
high consumption months of November through April. This is
the last press release of the 2002-2003 heating season. Releases
will resume when the November 2003 natural gas price is set.
However, we are available to answer questions about natural
gas at any time of the year.
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