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Wed October 29, 2008
KY Natural Gas
By Gabe Bullard
Louisville, KY – The Kentucky Public Service Commission says the commonwealth is not immune to an increase in natural gas prices. It's more expensive around the country, and the PSC estimates the price this coming winter in Kentucky will be up about 17 percent. Spokesperson Andrew Melnykovych says the gas that will be used this winter was purchased and stored in the summer, when a sudden interest in commodities drove prices up.
There was significant weakness in other sectors of the investment market, whether it was in stocks or bonds or mortgage based securities or whatever, and people were trying to find a place where hey could put their money to make some money and at least this summer the trend seemed to be to invest in commodity markets.
Melnykovych says gas-burning power plants have increased demand and driven up prices as well.