Natural Gas Rates for October
The gas utility tariffs for October are in. You can compare these rates to your own prices. Gas tariffs were on average just up 1 cent/gallon: up 3 cents for Eversource and unchanged for CNG and SCG. These utility tariffs below are expressed in heating oil gallon equivalents, and so present gas rates on a British thermal unit (Btu) to Btu equivalent basis with heating oil. These are the system expansion tariffs, which apply a surcharge to all residential conversions from heating oil to utility gas. The lower number applies if the home is within 150 feet of the gas main ("on main"), and the higher number applies if the home is more than 150 feet from the gas main ("off main").
Eversource (Yankee Gas): up 3 cents from September
On Main: $2.18/gall.
Off Main: $2.42/gall.
CT Natural Gas: unchanged from September
On Main: $2.05/gall.
Off Main: $2.25/gall.
Southern CT Gas: unchanged from September
On Main: $1.94/gall.
Off Main: $2.13/gall.
Average All 3 Utilities: up 1 cent from September
On Main: $2.05
Off Main: $2.27
Remember, even if your rates are higher than the utility's, it still could take over a decade for a homeowner to recoup the cost of conversion. Let's say you're $1/gall higher. On a 700 gall annual consumption, if the gas price is $1 lower than your price, then conversion may only save $700 per year, and to recoup a $7,500 cost of conversion, it would take $7500/$700 = 10.7 years to recoup the initial cost of conversion, and that's assuming prices don't change over the next decade. According to the state survey of heating oil prices, the statewide average on September 23 was $2.96/gallon, up 13 cents from a month earlier (due to Mideast uncertainty) but still down 5 cents from a year earlier. Oil prices according to the survey, vary from $2.94 for New London County to $3.23 for Fairfield County.