How do I convert natural gas prices in dollars per cubic feet to dollars per British thermal unit or therm?
In the United States, natural gas can be priced in units of dollars per therm ($/therm), dollars per million British thermal units ($/MMBtu), or dollars per cubic foot ($/cf).1 You need the heat content of natural gas per physical unit (such as British thermal unit [Btu] per cubic foot to convert these prices from one price basis to another.
In 2025, the U.S. annual average heat content of natural gas delivered to end-use sectors averaged about 1,037 Btu/cfu. Therefore:
- 100 cubic feet (1 Ccf) of natural gas equals 103,700 Btu, or 1.037 therms
- 1,000 cubic feet (Mcf) of natural gas equals 1.037 MMBtu, or 10.37 therms
You can convert natural gas prices from one price basis to another with these formulas (assuming the natural gas heat content is 1,037 Btu/cf):
- $/Ccf divided by 1.037 equals $/therm
- $/therm multiplied by 1.037 equals $/Ccf
- $/Mcf divided by 1.037 equals $/MMBtu
- $/Mcf divided by 10.37 equals $/therm
- $/MMBtu multiplied by 1.037 equals $/Mcf
- $/therm multiplied by 10.37 equals $/Mcf
The heat content of natural gas may vary by location and by type of natural gas consumer, and it may vary over time. Consumers and analysts should contact natural gas distribution companies or natural gas suppliers for information on the heat content of the natural gas they supply to their customers. Some natural gas distribution companies or utilities may provide this information on customers' bills.
1 EIA reports natural gas in volumes of cubic feet through 1964 at a pressure base of 14.65 psia (pounds per square inch absolute) at 60° Fahrenheit. Beginning in 1965, the pressure base changed to 14.73 psia at 60° Fahrenheit.
Learn more:
Average annual and monthly heat content of natural gas consumed by state
Newly released heat content data allow for state-to-state natural gas comparisons
Natural gas conversion calculator
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