March 2022 Board Update
Natural Gas Market Pricing Remains High
City Utilities continues to closely monitor market prices for natural gas. Current pricing is double than this time last year. The current market price is now approximately $5.75 per million BTU compared to March 31, 2021, pricing at $2.60 per million BTU.
City Utilities utilizes several methods to purchase natural gas including off-season purchases and storage for peak season demand, helping to minimize market price volatility.
Utility Offers Money Saving Rebates and Efficiency Tips
To help customers save money all year, City Utilities offers rebates and incentives on insulation upgrades and ENERGY STAR® rated Smart thermostats, among many others. Details on these offers and efficiency tips can be found on the Ways to Save section of our website and the CU social media sites.
Semi-Annual Electric Fuel Cost and Natural Gas Recovery Adjustments
During the next six-months, April through September 2022, CU electric customers using 1,000 kilowatt-hours a month can expect to pay approximately $4.20 more per month than the previous six months. Residential natural gas customers will also see a slight increase during the next six months. Residential natural gas customers will see an increase of approximately $0.80 per month. This is in part due to the increased market price of natural gas and the continued recovery of costs incurred during the February 2021 weather event.
Cost recovery for that unprecedented 2021 event was approved to take place during a two-year period, with the first year ending this month. These routine adjustments, up or down, occur every six months. All costs paid by City Utilities for the purchase, storage, and delivery of natural gas are directly passed through to customers and include no additional markup. Individual customer bills will vary based on the actual amount of natural gas used.