Natural Gas Rate Change
(April 26, 2019) At the April 25, 2019 Lower Valley Energy Board of Directors meeting, changes to natural gas rates were discussed in depth. The components such as commodity cost that make up the natural gas rate were closely evaluated.
Natural gas prices are rising – and in October of 2018 your Board of Directors voted to suppress a rate increase by drawing down the gas balancing account. The gas balancing account has historically been used to smooth out rate fluctuations in the highly volatile natural gas market.
Because the balancing gas account is nearly depleted, most of the credit you were previously enjoying will no longer be present. The credit was equivalent to 8 cents per therm. The remaining credit is 1 cent. The rate change will be effective May 1, 2019.