Natural gas prices in Illinois are as low as they’ve ever been in some people’s lifetimes. Bernie Anderson with Nicor Gas says there’s a lot of gas on the market, but not a lot is being sold. That’s why Nicor’s rate is down to 24¢ per therm this summer. People’s Gas is even less at around 20¢ per therm.
Anderson’s advice for customers who think now’s a good time to lock in low prices in long-term contracts is to know what you’re getting into. Don’t be too quick to jump on what seems like a good deal when another gas supplier offers a low rate.
Anderson says the way things look now, the market for natural gas looks stable. In other words, prices are likely to stay low over the winter.