Energy & Infrastructure

New Yorkers saved nearly $30.9 billion over past 10 years thanks to lower-priced natural gas

Staff Reports

Thanks to natural gas, New Yorkers saved nearly $30.9 billion between 2006 and 2016, according to a state report by Consumer Energy Alliance (CEA).

Williams provides approximately half of the natural gas consumed in New York City and Long Island through its Transco natural gas pipeline system.

According to the CEA report, families saved close to $15.7 billion and commercial and industrial users saved nearly $15.2 billion.

However, more is needed, the analysis warned. Because of a years-long ban on natural gas production and pushback against pipeline expansion to help ease energy bottlenecks, New Yorkers still pay nearly 40 percent above the national average for electricity, CEA calculated.

Williams’ Northeast Supply Enhancement Project is designed to help address energy infrastructure issues affecting New York City and Long Island. The project, which is currently under review by the Federal Energy Regulatory Commission, is an enhancement of existing energy infrastructure necessary to allow the continued conversion of 8,000 residents and businesses per year from heating oil to natural gas.

Additional highlights from the CEA report include:

  • On average, each resident spent $2,524 to meet their energy needs in 2016. For the nearly 14 percent of the state’s population living at or below the poverty line, this translates to almost one-fifth of their income.
  • For heat, roughly a quarter of state households use fuel oil; almost 60 percent use natural gas.
  • New York is the sixth-largest natural gas-consuming state. About 40 percent of the state’s electricity generation is powered by natural gas.
  • The oil and natural gas industries contribute 258,500 jobs and account for more than $21.3 billion in wages statewide. It also provides over $35.8 billion to the state’s economy.
  • From 2000 to 2017, nationwide emissions of key pollutants have decreased, including nitrogen oxides (by 52 percent), sulfur dioxide (by 83 percent), volatile organic compounds (by 19 percent) and fine particulate matter (by 37 percent).

To view the report, click here.