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MLGW News Release
 
Rising gas prices could lead to higher winter bills
October 4, 2021

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.

Through risk management strategies, MLGW hedges purchase costs to protect customers in the event of rising natural gas prices. “These upward price trends have been driven by growing concerns of low winter storage levels across the U.S. If we don’t see a decrease in U.S. natural gas prices in the next several weeks, MLGW customers could see some of the highest winter gas bills in recent years,” said Jeff Sissom, Gas Portfolio Management Supervisor.

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.

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.

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