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Winter Heating More Expensive This Year
Consumers will have to dig deeper into their wallets this heating season. Nicor and Ameren both predict natural gas increases of 20 to 25 percent during the 2008 - 2009 heating season over last season. Nicor and Ameren officials say that equates to a 15 to 25 cent increase per therm over last heating season.

Both utilities blame higher worldwide demand for energy that has driven up the market prices of both petroleum and natural gas. A weak dollar and the move by investors to invest in all commodities, including natural gas, are also placing upward pressure on prices, according to both utilities.

Natural gas prices jumped in June because of an increase in demand to produce electricity. Prices have since dropped but will increase as temperatures decrease. Officials with both Nicor and Ameren say that as the world moves towards a carbonless environment in terms of emissions standards, natural gas is becoming a popular choice for electricity production. Both utilities expect to continue to see an increase in natural gas demand in the summer months.

Natural gas prices could change due to unforeseen events such as hurricanes in the Gulf of Mexico.

Ameren and Nicor encourage customers to begin budgeting now for winter heating costs.

(Source: Illinois Radio Network)
09 09 08 by Newsroom
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