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News ReleaseJan. 28, 2005 February Natural Gas Cost Will Drop
Albuquerque: The February price of natural gas for PNM customers will be nearly 20 percent lower than it was in January. The February price of gas is 58.41 cents per therm, down from the January price of 69.53 cents. Based on expected average residential use of 127 therms in February, this will result in an average residential bill of $118.61, including franchise fee and gross receipts tax. The average residential bill in January is expected to be $136.73. PNM purchases gas from every major supplier in New Mexico and uses a variety of techniques, including hedging, gas storage and fixed-price contracts, to purchase gas as competitively as possible for customers. Under state regulation, the cost of gas is a pass through for PNM. Help available from state Low Income
Home Energy "LIHEAP helps families keep warm by paying a portion of one energy bill per year, whether it is natural gas, electric, propane or wood," said Pamela Hyde, Secretary of the Human Services Department (HSD). "We want New Mexicans to know that funds are still available." Hyde said the department has received $9.3 million in federal LIHEAP funds for the current fiscal year, which could provide assistance for 50,000 to 60,000 New Mexico families. The department has already assisted 34,000 families since October, with an average payment of $127. Families earning less than 150 percent of the federal poverty level can qualify for LIHEAP. This means a family of three earning less than $1,958 per month could qualify. LIHEAP applications are taken at any of the 34 HSD Income Support Division offices throughout the state, or by calling 800-283-4465. The PNM Good Neighbor Fund helps low-income families, elderly and disabled customers pay their energy bills. It is funded by the generous contributions of PNM customers and employees — and funds donated are matched dollar-for-dollar by PNM shareholders. In most communities, the program is administered by the Salvation Army.
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