Industrial users hit hardest: Natural gas prices soar for residents.
Natural gas demand price elasticity affects how much natural gas is used and its price. The research looked at different models to estimate this elasticity for short and long-term periods. They found that industrial users are more sensitive to price changes than residential users. Long-term price elasticity is stronger than short-term elasticity for all users. When other energy sources become more expensive, people use more natural gas, but the effect is small.