BUTTE, Mont. – Record high energy demand throughout the midwest during the extreme weather the first half of February followed by extreme weather throughout the Midwest has led to a spike in natural gas prices.
NorthWestern Energy (NWE) says Montana residential and commercial natural gas customers will see that higher cost of the natural gas supply reflected on their bill on the item “Natural Gas Supply.”
According to NWE, the increase will be $.10 per therm in March, about a $10 increase on the average residential bill.
If you are worried about your ability to pay for your winter energy bills, NWE says you should reach out to their customer service department.
Natural Gas Supply rates are anticipated to return to more normal levels by July NWE expects.
“This change is in accordance with NorthWestern Energy’s monthly Natural Gas Tracker, the actual cost of natural gas supply purchases. Customer natural gas supply rates increase or decrease monthly through the Natural Gas Tracker,” NWE wrote in a release. “The rate to deliver natural gas to Montana customers is unchanged.”
NWE said in the release saying the price of natural gas increased because natural gas is a commodity purchased from a competitive market. NWE says they use historical data and forecasts to purchase natural gas when prices are low, and a large portion of the lower-priced natural gas is placed in storage for use when natural gas prices and demand are higher.
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