After a historic cold snap depleted natural gas reserves in February, prices for heating could be as much as 30% higher this winter, prompting concerns about increasing bills for Kansas and Missouri customers. Kansas is already grappling with the $1 billion fallout from this winter’s cold snap, when natural gas prices rose by 200 times in a matter of days. Missouri’s largest utility has asked regulators to defer the costs it paid for natural gas in that same time. Now, the federal Energy Information Administration is predicting higher average prices for gas and an increase in electricity prices, too. If this winter brings average temperatures, gas prices are likely to be about 30% higher than normal — and electricity prices 6% higher. But a colder-than-average winter could mean prices rise by 50% and 15% for natural gas and electricity, respectively.
Source: The Lawrence Times
