Due to market forces, customers could see their total winter gas costs increase by 20% to 30%
With steadily rising U.S. natural gas prices, MLGW customers can expect higher than average winter heating bills this season. U.S. natural gas prices for the upcoming winter are currently projected to be significantly higher than last winter. These are some of the highest prices in the last eight years.
At current natural gas price levels, customers could expect to see their total winter months’ natural gas costs increasing by 20% to 30% over last winter’s natural gas cost.
Through risk management strategies, MLGW hedges purchase costs to protect customers in the event of rising natural gas prices. In an interview on the Division’s Power Up Memphis TV show, Jeff Sissom, Gas Portfolio Management Supervisor and Rod Cleek, Manager, Budget and Rates discuss, in depth, the protection strategies MLGW employs. The duo also discuss how market changes can directly impact customer bills during the interview which airs in November on Memphis Public Library’s WYPL TV-18 and can also be viewed on MLGW’s YouTube channel.
While customers cannot control the market, they can find ways to conserve and save money. To find energy conservation tips, go to mlgw.com/conserve.
MLGW is the largest three-service public power utility in the nation, serving more than 437,000 customers in Memphis and Shelby County.