WHERE ARE THE BENEFITS OF OHIO’S NATURAL GAS BOOM?

Over the last ten Years residential electric rates in Ohio have increased by almost fifty percent, while the prices paid by electric utilities for natural gas have decreased by about the same percentage. Over the same period prices of natural gas for home heating and cooking have only decreased by about twenty percent.

In 2013 Ohioans spent about $375 more per household on electricity than they did in 2005 but saved about $240 per household on natural gas over 2005 rates.

So the natural gas boom is costing us about $135 per year.

Sources: EIA: Electric Power Monthly and Natural Gas Monthly (Feb. issue each year) plus Census Bureau

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