The heating season is just around the corner.
And the last two winters we've paid record high prices for natural gas.
So far, we have more in storage than last summer, and that was a record amount.
Paula Toti shows you how things are shaping up for the winter ahead... in this Money Alert.
The hot weather of the past few weeks has pushed up natural gas prices ... as natural gas gets converted into electricity to meet demand cooling demand. And as you crank up the air conditioner ... you might not realize this summer natural gas prices have been higher than the prices we paid in January. Companies are trying to make up for the cold snap that came in late winter.
"All of our surplus of natural gas went out the window."
But we're building that surplus back up. Michael Catanzaro of The Utilities Group follows energy prices for a living. He says there are some signs that point to a break for families this winter.
"Tight now on the wholesale market our prices are down 22 percent from where they were a year ago."
If we get out of the hurricane season with little damage ... and remember it's just starting ... and we don't have record cold this winter .. we could get through that season with prices closer to normal. After two tough years. it's a lot of "what ifs" ... it doesn't take much to move prices even 50 percent.
"We're within 1 - 3 percentage points of having enough gas and not having enough gas."
Duke Energy has a new program for homeowners this year.
It's a freeHome Energy Audit that is no longer income based.
You'll even get a shower head and some energy efficient bulbs ... about a $40 value.
And if you think you'll have trouble paying your energy bill, consider signing up for budget billing if you haven't already.
