Missouri Public Service Commission approves natural gas rate hike for Spire customers

(WBRC)
Published: Nov. 22, 2022 at 11:51 AM CST
Email This Link
Share on Pinterest
Share on LinkedIn

JEFFERSON CITY, Mo. (Edited News Release/KY3) - The Missouri Public Service Commission approved a rate hike for Spire customers. The rate hike change goes into effect on November 29.

The Actual Cost Adjustment factor is a mechanism that tracks any over-collection or under-collection of actual natural gas costs over a 12-month period. The net over-or under-collected balances are subsequently either refunded or collected the next year.

Spire East residential customers currently pay approximately $0.60 per Ccf (per hundred cubic feet) of natural gas. Under this filing, the rate will increase to approximately $0.71 per Ccf.

Spire West residential customers currently pay approximately $0.79 per Ccf of natural gas. Under this filing, the rate will increase to approximately $0.92 per Ccf. The cost of natural gas from wholesale suppliers generally makes up approximately 50% to 55% of a customer’s total monthly natural gas bill.

The wholesale cost of natural gas (the cost your local natural gas company must pay to its suppliers for natural gas) is not regulated by the Missouri Public Service Commission. The wellhead cost of natural gas is unregulated and is primarily driven by supply, demand, and the weather. The Missouri Public Service Commission does conduct an annual regulatory review to ensure that regulated natural gas companies make prudent decisions in securing natural gas supplies for their customers.

What you can do to help manage your utility bill:

  • Add attic insulation if necessary
  • Place weather stripping around doors, use plastic film covering and caulk windows to keep heat from escaping from your home
  • Change or replace furnace filters each month when dirty
  • Have your chimney checked for blockage
  • Close fireplace dampers when the fireplace is not being used
  • Have your heating system checked and tuned up if needed
  • Place an approved insulated cover jacket around the hot water heater
  • Consider getting professional help for any projects that are beyond your capabilities
  • Contact your local utility company to ask about energy-saving tips and programs

Spire East provides natural gas service to approximately 662,800 customers in the city of St. Louis as well as the Missouri counties of St. Louis, St. Charles, Butler, Iron, Franklin, Jefferson, Madison, Crawford, St. Francois and Ste. Genevieve.

Spire West provides natural gas service to approximately 532,900 customers in Andrew, Barry, Barton, Bates, Buchanan, Carroll, Cass, Cedar, Christian, Clay, Clinton, Dade, DeKalb, Greene, Henry, Howard, Jackson, Jasper, Johnson, Lafayette, Lawrence, McDonald, Moniteau, Pettis, Platte, Ray, Saline, Stone and Vernon counties.

To report a correction or typo, please email digitalnews@ky3.com