The most recently updated natural gas rates will bring residential heating prices down for Hamilton residents later in the winter, but the same may not be true for Oxford.
Hamilton's December gas rates are listed at $1.31 per hundred cubic feet, including delivery costs, according to Hamilton's utilities office.
Hamilton public utilities manager Doug Childs said his city's natural gas rates will fall due to Hamilton's methods for purchasing the resource.
Childs said though many utilities companies purchased natural gas over the summer, storing it for the October through March heating season, Hamilton public utilities officials held off and bought in segments.
"It's important to buy ahead of time, but, in July, gas was about 14.50 per dekatherm (1,000 cubic feet of natural gas)," Childs said. "Now gas is selling for about 5.55 per dekatherm."
Duke Energy, the energy provider for the Cincinnati area, estimates on its Web site that the average home uses about 7,000 cubic feet of gas per month.
Childs said buying small amounts of natural gas at each purchase, beginning in August, allowed Hamilton to obtain cheaper gas as prices began coming down.
"We waited as late as we could, thinking that the run-up in energy prices couldn't hold, and we were right," he said. "I wish we could've waited longer, but we really couldn't and still keep our customers warm at the beginning of winter."
According to Childs, it is hard to predict gas prices.
"You don't have a crystal ball, and you never know what prices are going to do," Childs said. "They could just have easily stayed high through the winter."
Kathy Meinke, a public affairs specialist from Duke Energy, said Duke merely delivers natural gas purchased by the Hamilton municipality to residences through Duke-owned pipes.
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Glenwood Energy, a locally owned company, delivers its own gas to Oxford buildings. John Stenger, financial manager for Glenwood energy said hedging, or buying gas to store for later use, can affect utility prices.
"The gas costs have changed so much," he said. "If we bought gas at a different time than Hamilton, our gas prices may be slightly higher."
Stenger said because Hamilton purchases its own gas, it may be able to buy for slightly cheaper.
Both Glenwood Energy and the city of Hamilton buy from supplier Atmos Energy.
Stenger gives December gas prices as $1.17 per hundred cubic feet of gas before delivery costs.
"Our gas prices are just a little bit higher than they were last year, but January, February and March prices should be close to last year's," Stenger said.
"Right now, our residents are getting prices are pretty similar to those given to Duke's customers."
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