Regarding the Review’s April 11 article, “Natural gas glut a boon to users,” it was as if nobody read your article. There should have been a public outcry letting Avista know that we know. Or Avista should have commented, saying they’ll be reducing rates tremendously.
To recap your article: There is a nationwide glut in supply of natural gas, as well as massive new reserves unlocked by new technology in North America. The price of natural gas has plummeted almost 75 percent. The price for natural gas futures the week of your article was $3.61 per 1,000 cubic feet, while in July it was $13.69 per 1,000 cubic feet. Utility companies nationwide are locking into these bargain basement prices for the next year, which means a huge drop in rates for the customer. Columbia Gas of Ohio has already lowered their gas rates 26 percent.
The oil companies have lowered their prices by almost half since November. Hopefully, Avista won’t lower the rates a token 5 to 10 percent and figure the public is too stupid to know better.