On the heels of a statewide cold snap fostering near-record natural gas send-outs late last month, Pacifiic Gas and Electric Co. last week reported that its retail natural gas rates are down by 64% from their record high a year ago in the midst of California’s energy price/supply crisis. The average retail bill expected this month is about $41, based on a 27 cents/therm wholesale cost, compared to average bills for February 2001 of $113, based a $1.28/therm wholesale cost.

The average bill this month represents a 15% decrease over last month when the average monthly bill was $48, according to a news announcement from the PG&E utility. In January last year, the utility said, average retail gas bills were almost $122.

Historically, retail bills and wholesale commodity costs are back to 1999 levels, based on a five-year summary given by the utility. Wholesale charges in February 1998 were as low as 19 cents/therm; monthly retail bills were in the low-$40 range in 1998-99.

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