Natural Gas Prices Spike Headed to Your Wallet - KCBD NewsChannel 11 Lubbock

3/6/03

Natural Gas Prices Spike Headed to Your Wallet

Although our winter has been relatively mild here on the South Plains, it's been bone chillingly cold for most of the nation this winter. That, coupled with low natural gas supplies has caused prices to spike, which means your utility bills are once again moving on up.

All of us will soon be paying a lot more for gas and electricity and for Kirish McGrew, that means cutting back. "Basically just regulatin' when we turn the gas on and everything. Try to make sure that we don't get too high bills," says McGrew.

Atmos Energy Division Vice-President Junior Aston says its customers' can expect to pay $20 to $25 dollars more this month than they paid last month for the same amount of gas. "With the gas prices increasing, everybody's bill will be higher."

The only good news is that prices have been declining for the past three or four days now. But, that's too little too late for your next bill.

There are three reasons for the spike:

  • A brutally cold winter nationwide.
  • Volatile oil prices and markets possibly because of an unstable economy and looming war.
  • Low storage levels. Supply is low and demand is high, which causes prices to skyrocket.

"We pass the cost directly to the customer. There's no profit here," says Xcel Energy's Curtis Corder. Corder says a rise in natural gas prices also means your electricity rates will be going up.

Energy Conservation Tips
Energy Saving Tips for the Summer. Save Energy = Save Money
Take a Look.

More >>

Both Xcel and Atmos say they are doing things to keep costs down. Xcel Energy uses a blend of natural gas and coal to produce its electricity.

Atmos Energy blends cheaper pre-purchased gas from the summer months with current gas, which helps to save its customers money at times like this.

By the way, LP&L customers can expect to see the same kind of rising rates.

  • Local News on KCBD.comNewsMore>>

  • The Latest: Trump doesn't like Kim Jong Un's attitude change

    The Latest: Trump doesn't like Kim Jong Un's attitude change

    Tuesday, May 22 2018 10:32 AM EDT2018-05-22 14:32:52 GMT
    Tuesday, May 22 2018 1:57 PM EDT2018-05-22 17:57:37 GMT
    (AP Photo/Wong Maye-E). FILE - In this May 11, 2018, file photo, a news vendor counts her money near a stack of newspapers with a photo of U.S. President Donald Trump, right, and North Korea's leader Kim Jong Un on its front page  in Singapore. U.S. We...(AP Photo/Wong Maye-E). FILE - In this May 11, 2018, file photo, a news vendor counts her money near a stack of newspapers with a photo of U.S. President Donald Trump, right, and North Korea's leader Kim Jong Un on its front page in Singapore. U.S. We...

    President Donald Trump's meeting with North Korean leader Kim Jong Un is still weeks away, but a colorful commemorative coin of the two leaders is ready to go.

    President Donald Trump's meeting with North Korean leader Kim Jong Un is still weeks away, but a colorful commemorative coin of the two leaders is ready to go.

  • Records: Teen suspect said he 'drove at' Maryland officer

    Records: Teen suspect said he 'drove at' Maryland officer

    Monday, May 21 2018 11:43 PM EDT2018-05-22 03:43:29 GMT
    Tuesday, May 22 2018 1:55 PM EDT2018-05-22 17:55:21 GMT
    A 16-year-old boy has been charged with first-degree murder in the slaying of a Baltimore County, Maryland, police officer. (Source: Baltimore County Police/CNN)A 16-year-old boy has been charged with first-degree murder in the slaying of a Baltimore County, Maryland, police officer. (Source: Baltimore County Police/CNN)

    The officer, who wasn't immediately identified, was run over by a Jeep and fatally injured, authorities say.

    The officer, who wasn't immediately identified, was run over by a Jeep and fatally injured, authorities say.

  • The princes, the president and the fortune seekers

    The princes, the president and the fortune seekers

    Tuesday, May 22 2018 12:13 AM EDT2018-05-22 04:13:57 GMT
    Tuesday, May 22 2018 1:54 PM EDT2018-05-22 17:54:59 GMT
    (AP Photo/Evan Vucci, File). FILE - In this May 20, 2017, file photo, President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman in Riyadh. In emails obtained by The Associated Press, George Nader claims...(AP Photo/Evan Vucci, File). FILE - In this May 20, 2017, file photo, President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman in Riyadh. In emails obtained by The Associated Press, George Nader claims...

    A top Trump fundraiser and a senior adviser to a UAE crown prince ran a secretive campaign, trading lobbying against Qatar for defense contracts from Gulf countries.

    A top Trump fundraiser and a senior adviser to a UAE crown prince ran a secretive campaign, trading lobbying against Qatar for defense contracts from Gulf countries.

Powered by Frankly