News Release

Oct. 29, 2003

November Natural Gas Price Drops From October Level

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NEWS MEDIA CONTACT Susan Sponar Telephone: (505) 241-2768

Albuquerque: The November price of natural gas for PNM customers will be 48.70 cents per therm, down 2 cents from the October price of 50.96 cents.

The average PNM residential customer, using 45 therms, will pay $40.33 for natural gas service in November. This compares with last November's average bill of $34.00, when the price was 35.76 cents per therm.

PNM purchases natural gas on the wholesale market and, by state law, passes the cost along to customers without a markup.

"The natural gas markets have responded to October's moderate weather," said PNM Vice President Melvin Christopher. "The result is a price that, while still high, is lower than what we saw last month."

A small investment can
make a big difference

Christopher said that even with the relief in the price of natural gas, November is still a good time for customers to weatherize their homes.

Five low-cost weatherization items, which together cost about $35, can pay for themselves through lower heating bills in just one or two months, Christopher said. Those items are:

1. caulk gun with caulk, to seal leaks around windows and door frames ($6)
2. weatherstripping, for doors ($3);
3. plastic window insulation, for creating a temporary storm window for single-paned windows ($12),
4. foam insulation pads for outlets and switches on exterior walls ($4)
5. a hot-water heater insulation blanket ($10)

More weatherization tips