Over the past year or so, natural gas prices have risen significantly in US markets. The cost of natural gas for the next 12-18 months is currently trading on the NYMEX Exchange at prices that we have not seen in many years. The cost between now and March 2023 is around $9.50 per unit. To put that in prospective, the cost last winter was around $4.00 per unit. Because of this increase, the cost of all activities that require natural gas have also increased including heating your home.
As a service to our customers, the District wants you to be aware of this issue well before it starts affecting your monthly budget. We recognize that this upcoming heating season has the potential of causing a financial hardship for our natural gas customers.
AND NOW THE GOOD NEWS…………..Because the District feared a spike in natural gas prices, we have a substantial volume of our natural gas pre-purchased (hedged) at a much lower price for the next 3 heating seasons. This pre-purchased gas will not entirely prevent an increase in your monthly heating cost, but we are optimistic that it will keep your heating cost at a much more reasonable level.