Prices are expected to drop by 68% in February.
Southern California Gas Co. says the natural gas commodity price will drop by 68% next month compared to January's record-high prices, translating to dramatically reduced bills.
"While we're relieved that prices have dropped significantly since last month, they remain higher than usual for this time of year," Gillian Wright, SoCalGas senior vice president and chief customer officer, said in a statement."We know that many of our customers are feeling the impacts of high prices, and we hear their concerns.
February's core procurement rate will be about $1.11 per therm, compared to $3.45 per therm in January. However, February's procurement rate is still more than 80% higher than it was a year ago, the company said. Long Beach Mayor Rex Richardson announced this week that the City Council will hold an emergency meeting Wednesday to "establish a financial assistance fund for seniors and families struggling to make ends meet."Lowering the thermostat by three to five degrees -- if health permits -- which can save up to 10% on heating costs;
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