CU Acts to Lower the Impact of Natural Gas Costs
On February 25, the Board of Public Utilities voted to spread the natural gas costs incurred by the February winter weather crisis over a longer period to minimize the current impact on customers’ bills. Instead of recovering approximately $40 million in a six-month period, which is the existing rate, the board approved a resolution to spread it out over a 24-month period.
This resolution will be sent to the Springfield City Council for approval in March. If approved, customers will see an estimated additional $0.20 per therm on natural gas bills from April 2021 through March 2023. Based on average residential use, this will equate to approximately $3 additional per month in months when natural gas is used less, and approximately $27 during higher use months.
Customers can control that impact individually by taking steps to increase the efficiency in their homes and businesses to lower their own usage. Simply installing a smart thermostat will give customers more control on what they use. City Utilities provides rebates to help with the cost of making these improvements.