US News

CITY HOMES’ GAS ATTACK

Wholesale natural gas prices have plunged by half since summer – but the weird economics of the utility business has actually brought big price hikes for New Yorkers.

Con Ed charged $421 for gas last January, and now it’s around $483 – up 15 percent. Customers of National Grid, which serves Brooklyn and Queens, are seeing a hike of around 7 percent.

One reason for the price spike: Con Ed and National Grid bought and stored a lot of gas last spring and summer, when prices peaked.