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News Release
Nov. 30, 2004
Natural Gas Cost Remains Steady in December
Albuquerque: Though the price of natural gas in December
will be similar to November's price, the monthly bills of
PNM gas customers are expected to go up due to higher consumption.
PNM customers typically use twice as much gas in December
as they do in November. The average residential usage for
December is 102 therms; for November, it is 45 therms.
The December price of gas is 69.32 cents per therm, close
to the November price (69.59 cents) but up significantly from
the December 2003 price (48.65 cents). Based on expected average
residential use of 102 therms in December, this will result
in an average residential bill of $108.40, including franchise
fee and gross receipts tax. Last December, the average residential
bill was $79.27.
PNM purchases gas from every major supplier in New Mexico
and uses a variety of techniques, including hedging, gas storage
and fix-price gas contracts, to try to get the best market
price for customers. Under state regulation, the cost of gas
is a pass-through for PNM.
"We want customers to know that because market prices
are expected to stay high for some time, it is never too late
to weatherize their homes and help keep their bills under
control," said PNM Vice President Cindy McGill.
To assist customers with weatherization, PNM's December EnergyWorks
bill insert offers customers a free DVD that includes eight
separate weatherization videos, in both English and Spanish.
Those DVDs are available beginning Friday.
The December EnergyWorks also includes a coupon good for
certain purchases at participating Ace Hardware stores throughout
New Mexico. The coupon is good for 25 percent off programmable
thermostats in stock or $5 off the purchase of weatherization
products totaling at least $25.
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