Natural Gas/heating question-(any NSTAR users?)

[BigClipper]

Ok GGers, I need your advice!

DH is overseas and I am left with this decision. I will admit...I have NO CLUE! :confused:

Just got a letter from my Natural Gas company (Any other NSTAR users out there get this one?) that they are giving customers an opportunity to "lock in" to a specific price per therm for Nov1 to Apr 30 heating season.

Price= $1.2149 per therm

(Current rate for gas is $1.1949 but this will fluctuate if I don't lock in.)

Once you agree, you cannot change it. I am new to heating with Natural Gas and have absolutely no clue what to do. Anyone have an opinion about this?

I understand it is a gamble when you lock in on rates for heating. I just wish I had more knowledge to make this decision. Any one have any expertise or advice in this area, I would appreciate it. I only have till Nov 3rd to decide.

Thanks!

[salQgal]

I have only heard advice regarding Oil heat, but it may apply to Natural gas too.
The experts are saying that heating cost should not rise much, if at all this winter, as there is a larger supply than they had anticipated.
The advice is to not lock in a price. People who did this over the summer saw the oil prices drop, and it's too late.

Sal

[BigClipper]

Thanks SalQ. This is a tough call...I just heard on the news that prices are going up! Hard to know who to believe, it seems to change everyday.

We had oil heat when we moved in 2 years ago and actually went through the expense to switch to Natural Gas (system needed fixin anyway) just in time for prices to go up, lol, Murphy's Law. Everybody was turning to Gas and then they announced a shortage of areas where it could be found.

[couponsr4me]

We did something similiar a few years back. We locked in to a rate for the winter, but it wasn't thru the gas company, but a seperate company (a subsid of the gas company). Anyway, since we have an indoor pool we were able to heat that baby nicely for the whole winter without paying the current high rates. That was nice also because that year the gas prices were so high. Look at the fine print though to make sure that there isn't anything stating that they can cancel the program at any time. I think our company discontinued the program at some point because they took some severe losses, I'm not sure.