December natural gas prices
The gas utility tariffs for December 2018 are in. You can compare these rates to your own prices. Gas tariffs were up across the board, as can be seen in the chart below, for Eversource, CNG and SCG, compared to last month. This reflects the fact that natual gas is in a bull market for the past month, up 40 percent on the NYMEX over the past 30 days. CNG and SCG are up much higher than Eversource, because they had kept prices suppressed over past few months and are now trying to catch up. 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 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 4 cents from November
On Main: $2.15/gall.
Off Main: $2.39/gall.
CT Natural Gas: up 17 cents from November
On Main: $2.08/gall.
Off Main: $2.28/gall.
Southern CT Gas: up 12 cents from November
On Main: $2.02/gall.
Off Main: $2.208/gall.
Average All 3 Utilities: up 11 cents from November
On Main: $2.08
Off Main: $2.29
Remember, even if your rates are higher than the utility's, it still could take decades 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 the $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 November 5 was $3.09/gall., down 13 cents from last month. Again this reflects oil moving in the opposite direction from gas, down 20 percent over the past 30 days exhibiting a bear market.