“We are very concerned about the upcoming natural gas price increases for struggling Colorado families and the dangerous choices households could make when trying to afford home heating costs,” Luke Ilderton, deputy director of Energy Outreach Colorado, which helps low-income households with their utility bills, said in a statement. Xcel is also seeking an $188 million increase in its base natural gas rates from the PUC, which over three years would add another $8.14 to the average residential bill. 20, the Colorado Public Utilities Commission approved another cost-adjustment rate increase - equal to 4.62%, or $6, when compared to the third quarter of 2021. The price of gas, whatever the forces, gets passed along to customers. “Whatever is happening in Ukraine we have to deal with consumer bills in Colorado and winter is coming,” Schonhaut said. is on pace to consume a record amount of natural gas in 2022 - 86.6 billion cubic feet a day, according to the federal Energy Information Administration. became the world’s largest exporter, a hot summer increasing demand, and energy markets roiled by the war in Ukraine.Īt the same time the U.S. The price has been driven by multiple factors including a drop in drilling new wells during the pandemic, an increase in exports of liquified natural gas as the U.S. It had reached as high as $8.81 in August. Since March the spot price for natural gas at the Henry Hub, one of the country’s main distribution points, had nearly tripled to $8.01 per 1 million British thermal units on Sept.
It can go down when gas prices fall and up when the price rises. The cost of natural gas is passed directly to customers through a quarterly gas cost adjustment.
It is more than concerning, it is frightening from the point of view of a consumer advocate.”
“Some of it comes from the impact on what is going on internationally,” Schonhaut said, “but the impact on consumers of this kind of rate increase is astounding. Xcel natural gas bills will jump 54% in Colorado in December Close
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