[RightWhale]

Natural gas is headed for $15 a thousand cubic feet or million Btu, whichever unit you like, rather than pulling back. The gov't estimates for winter heating costs may be conservative. This will at least bend some household budgets badly, probably break some. But, proactive measures are possible: Don't heat the whole house. Plumbers may be busy, though, and the plumber's bill may be even more than heating costs saved when some water pipes freeze.

[carl in alaska]

Keep in mind that published commodity prices only apply to gas that has not already been sold under long-term contracts. As far as I know, the majority of natural gas used by utilites has been purchased under long-term contracts at a fixed price. Gas utilites may also be hedged in the commodity markets against rising gas prices on the remaining gas. So the remaining gas that's not in long-term contracts is going to explode in price in the commodity markets, but only part of that cost will flow through to customers.

Nonetheless, I've read that long-term contract prices are up from last year and when combined with increases in uncontracted gas, most customers should see a 30-50% increase in their heating bills. But this will not be the huge crisis that some (commodity traders?) are loudly predicting.