March 2023 Board Update
Natural Gas Market Pricing “Holding Steady”
With the winter heating season ending, City Utilities is continuing to closely monitor market pricing for natural gas and preparing for next winter. Current market indicators show prices returning to near $2.00 per million Btu (MMBtu), where market prices one-year ago were near $6.00 per MMBtu. CU will begin purchasing and injecting natural gas into storage for the 2023-2024 heating season and customers will see the lower market prices reflected in lower natural gas bills. City Utilities utilizes several methods to purchase natural gas including off-season purchase and storage for peak season demand, helping to minimize the cost impact of market price volatility.
This summer CU residential natural gas customers will see around a 27% decrease in their monthly bill compared to last summer. The lower natural gas bills are due to the lower market price for natural gas and the two-year cost recovery factor for Winter Storm Uri, in February 2021, expiring on March 31. CU electric residential customers this summer can expect to pay approximately the same amount for electric service as the previous six months.
The electric fuel cost adjustment and natural gas recovery adjustment occur every six-months. The adjustments are based on fuel costs paid by City Utilities fuel and include no additional markup. Individual customer bills will vary based on the actual amount of natural gas used.
April – Safe Digging Month
With warmer temperatures and spring projects starting, April is recognized as Safe Digging Month, and City Utilities reminds everyone to call 811 before doing any type of digging. Missouri law requires notification at least three working days prior excavation or digging of any type. For more information, call 811 or visit Missouri-811.org.
Utility Offers Money Saving Rebates and Efficiency Tips
To help customers save money all year, City Utilities offers several rebates and incentives. 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.