Energy Prices Fall as Demand Maintains

Wednesday, November 19th 2008, 10:22 pm
By: News 9

By Dave Jordan, NEWS 9

OKLAHOMA CITY -- After energy prices hit record highs in July, prices have begun to decline and consumers are expected to benefit from that.

"The good new is that if the trends continue, that cheaper gas will work its way through the system and we'll see that reflected in our bill," said Matt Skinner with the Oklahoma Corporation Commission.

Utilities like ONG must have enough gas on hand to meet the demand. Most of it was purchased during the summer when prices were at record highs. Utilities continue to buy the gas, but as the prices dropped, the rates remained the same.

State law prohibits utilities like ONG and OG&E from profiting on the delivery price, although utilities can pass on the total cost of delivery to the rate payer.