We’re committed to providing you timely information and helpful resources as costs for just about everything are going up. Natural gas prices are unstable and are impacting utility bills not only here, but across the nation and world.
Why natural gas prices are increasing
Greater demand and limited supplies for natural gas around the world have increased the cost to generate electricity and heat your home. Right now there are several events causing an increase in natural gas prices, including:
- Natural gas production in the United States is lagging.
- Natural gas demand has increased as a result of international conflicts, drought conditions and lower than average natural gas storage.
- Inflation and concerns for a global recession for late 2022-2023.
What to expect this winter
Changes to natural gas prices impact customers more in the winter months. We are closely watching natural gas prices to help you plan.
As a non-profit, community-owned utility, increases and decreases in these fuel costs are passed-through to customers, usually four times per year. While it is possible you may see electric and natural gas rates stay steady or even decrease this fall, rates this winter are expected to be higher. Changing weather trends could impact bills too, as can efficiency of appliances, conservation efforts and home weatherization.
What you can do
A few simple steps can help manage heating costs in the winter:
- Weather strip doors and windows to reduce the amount of air loss from your home.
- Change your furnace filter every 30 days and schedule a qualified contractor to perform an annual check-up.
- During winter, set your thermostat no higher than 68 degrees when home and 60 degrees when away or sleeping. We offer a $50 rebate for installing ENERGY STAR smart thermostats and they can save you up to $145 a year on heating and cooling costs.
What we're doing about higher natural gas prices
We know bill increases impact everyone. That’s why we do things like buy natural gas at lower rates when demand isn’t as high. We also use other long-range tools to lock in a portion of our supply at lower prices.
Other tools are available to help you manage your bill and get payment assistance. Follow the links below to learn more about COPE, LEAP and Budget Billing.
