The March price was set at $.60 a therm which is significantly lower that the $3.45 customers paid in January. The price in February was $1.11.
“Everybody pays into lowering the cost for people who can afford gas and electricity the least,” Wagner said.
The state raises money from the sale of pollution permits and those funds pay for credits — a benefit from the state’s cap and trade program. The price jumped so high in the first month of the year that the California Public Utilities Commission held a hearing to explore the causes of the price spike.
Testimony indicated high demand caused by cold weather, low supplies and some pipeline issues contributed to the high prices.
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