section_path: Energy content, statistics, and pricing/United States
section_name: United States
paragraph_text: United States
  
  In US units, one standard cubic foot (28 L) of natural gas produces around 1,028 British thermal units (1,085 kJ). The actual heating value when the water formed does not condense is the net heat of combustion and can be as much as 10% less.
  
  In the United States, retail sales are often in units of therms (th); 1 therm = 100,000 BTU. Gas sales to domestic consumers are often in units of 100 standard cubic feet (scf). Gas meters measure the volume of gas used, and this is converted to therms by multiplying the volume by the energy content of the gas used during that period, which varies slightly over time. The typical annual consumption of a single family residence is 1,000 therms or one Residential Customer Equivalent (RCE). Wholesale transactions are generally done in decatherms (Dth), thousand decatherms (MDth), or million decatherms (MMDth). A million decatherms is a trillion BTU, roughly a billion cubic feet of natural gas.
  
  The price of natural gas varies greatly depending on location and type of consumer. The typical caloric value of natural gas is roughly 1,000 BTU per cubic foot, depending on gas composition. Natural gas in the United States is traded as a futures contract on the New York Mercantile Exchange. Each contract is for 10,000 million BTU or 10 billion BTU (10,551 GJ). Thus, if the price of gas is $10/million BTU on the NYMEX, the contract is worth $100,000.