Natural gas prices skyrocket with bills increasing by more than double between December and January 2023
There may be relief as prices are projected to decrease by 68% in February compared to January
Southern California Gas Co. has announced that its 21.8 million customers may be able to expect some relief from the astronomical natural gas prices they have been experiencing, as prices are projected to decrease by 68% in February compared to January. Gillian Wright, an executive of SoCalGas, commented on this development: “While we’re relieved that prices have dropped significantly since last month, they remain higher than usual for this time of year." The utility attributed the drop in consumer gas prices primarily to a commensurate drop in the wholesale price that SoCalGas will pay for gas in February compared with January.