Customers of Kansas’ largest natural gas utility could be paying off costs from February’s deep freeze for the next 10 years, the company revealed Friday. The Kansas Gas Service, which serves more than 640,000 Kansas customers, filed plans with regulators to issue securitized bonds for approximately $390 million in extraordinary costs from the cold snap — plus carrying costs — and recoup the sum from customers over five, seven or 10 years, increasing residential bills by anywhere from about $5 to $11 per month. If the Kansas Corporation Commission doesn’t approve the arrangement, KGS said it would request to recover the costs over three years “to minimize the carrying costs” of the debt. Its plans come after Black Hills Energy announced in June that its customers bills would increase by an average of $12.23 per month for five years to recover what amounted to a year’s worth of gas charges in one month.
Source: Derby Informer | Area
