Speyer natural gas prices to rise next month
ST. LOUIS – Speyer customers will see an increase in natural gas prices starting next month after a price analysis found that the prices charged to customers for 2021 were below the market rate.
The price change, which takes effect Nov. 30, will increase the cost of natural gas for residential customers in Spire East from $ 0.37 per therm to $ 0.59 per therm, according to a press release from the Missouri Public Commission Service.
Spire East includes clients in the city of St. Louis and the Missouri counties of St. Louis, St. Charles, Butler, Iron, Franklin, Jefferson, Madison, Crawford, St. Francois and Ste. Genevieve.
The wholesale price of natural gas makes up about 50% of a customer’s bill and is not regulated by the Missouri Public Service Commission.
True Cost Adjustment is a program that tracks the price of natural gas throughout the year and compares it to the price received from residential customers. In years when the price charged to customers is higher than the market price, customers are reimbursed over the following year.
In 2021, however, the price to customers was below market value when averaged over the year. The biggest factor was the 2021 winter storm that caused service outages in Texas and impacted the price of natural gas across the region.
Speyer West residential customers will see an increase from $ 0.40 per hundred cubic feet of natural gas to $ 0.79 per hundred cubic feet of natural gas. Spire West supplies gas to customers in Missouri counties of Andrew, Barry, Barton, Bates, Buchanan, Carroll, Cass, Cedar, Christian, Clay, Clinton, Dade, DeKalb, Greene, Henry, Howard, Jackson, Jasper, Johnson , Lafayette, Lawrence, McDonald, Moniteau, Pettis, Platte, Ray, Saline, Stone and Vernon.
The Missouri Civil Service Commission has provided the following tips for lowering your heating bills.