Currently, there are plans to construct at least three new natural gas-fired power plants in Ohio, owing to the state’s newfound bounty of natural gas from the Utica Shale. While it is no secret that shale development is bringing prosperity to eastern Ohio — with an influx of billions of dollars in investment and creating tens of thousands of high-paying jobs — utilities are also recognizing that natural gas prices are also well below the national average, which is due in large part to abundant supplies of natural gas right under our feet.
Ohio residents currently enjoy a $0.85 discount per mcf, while commercial consumers, like an electric utility, pay $1.12 per mcf less than the national average. That may not sound like a lot, but the 3.2 million residential natural gas consumers in Ohio pay $213.3 million less a year for their natural gas compared to consumers paying the national average. Commercial customers in Ohio are enjoying a $162.4 million discount on their natural gas compared to commercial consumers paying the national average in other states.
Three new projects demonstrate what low-cost energy can mean for our state:
Read more: http://www.northcentralpa.com/feeditem/2014-03-04_shale-development-bringing-three-new-gas-utility-projects-ohio