BOSTON — The Massachusetts Department of Public Utilities (DPU) has approved reductions in gas supply rates for most gas customers across the Commonwealth. On average, the decreases will result in a monthly bill decrease of about 4-5 percent for a typical residential heating customer.

New rates begin Feb 1

That is great but feels a bit late.

SO by the time these decreases actually trickle down to the average consumer, the heating season will be over.

Natural Gas markets have completely crashed through the floor. Why only 4-5%?

I'd assume more reductions later. Prices crashed for Feb and onward delivery.

Retro to Feb 1. Summer rates begin May 1. I like my house on the cool side, but I really cranked up the heat on Friday.

Could be, from the reporting:

Under federal law, natural gas is sold in a competitive market. The Massachusetts gas distribution companies are required to purchase gas on their customers' behalf at the market price and pass that cost on to their customers without profit to the companies. The DPU requires all gas distribution companies to revise their gas supply rates, known as the cost of gas adjustment factor, or "GAF", whenever the companies will materially over- or under-collect costs from customers. Due to declining natural gas prices in the competitive market, the companies will decrease their GAF for gas consumed between Feb. 1, 2023, and April 30, 2023.

Depending on the utility, this is actually a 10-15% gas supply rate reduction. 5% drop in total bill expected. Like electricity, distribution charges are often higher than production charges, and these will not go down.

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It is actually a 10- 15% supply rate drop. Delivery does not go down, so 4-5% drop off overall bill.

The gas part should fall more. Dec gas was like 6.79, vs Feb at like 3.10. March is looking lower.

I agree, I don’t know how gas can crash by what looks like well over 50% but then we only get a 10-15% reduction? We are being taken to the cleaners for the remainder of the heating season is what it feels like.