Springfield City Utilities warns of rise in natural gas prices

SPRINGFIELD, Mo. (KY3) - Natural gas prices have more than doubled compared to 2021 prices.

Springfield’s City Utilities projects that this increase, not an increase in utility rates, could lead to a 30% to 50% increase in natural gas heating costs this winter. CU says that they use measures to pay for natural gas below market value. Joel Alexander of CU says that CU is doing it what it can during the offseason to get its supply of natural gas at a lower price.

“We buy on the off season and put that into storage,” said Alexander. “When the gas prices are lower on the market, we’re trying to buy at those prices to have that gas & supply ready to use for the winter heating season. Even with the mechanisms we have in place & the supply, we’re seeing the higher prices and that’s gonna ultimately impact the consumer.”

With all of that in mind, Alexander says now is the time to take simple steps to start winterizing your home. That includes improving your insulation.

“Insulation is fairly inexpensive and something you’ll see the benefits from year-round,” said Alexander. “This time, what we’re talking about during winter season, you’ll keep the cold air out and the warm air in your home. Insulation will help you do that. We offer a rebate on that, 20% or up to $300.”

City Utilities has additional ways to save energy, apply for rebates to reduce energy costs and apply for payment assistance. You can contact your own utility provider to see what options you have to reduce costs for the upcoming winter season.

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