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Vermont Gas Announces Price Drop

Customers of Vermont's lone natural gas company have some good news coming just as the heating system kicks into full gear — a rate cut.

Vermont Gas announced plans on Tuesday for an overall rate reduction of nearly 6 percent to take effect on Nov. 1.

The company serves northwestern Vermont — the rest of the state does not have natural gas.

Vermont Gas says its customers are benefiting from price cuts offered by its suppliers. Natural gas prices have been dropping around the country due to a boom in shale gas extraction.

The company says its Vermont prices will save customers more than 50 percent over the cost of heating oil or propane.