Black Hills Energy to spread natural gas costs over three years to counteract February spikes
In response to the historic February winter weather that caused massive increases in Iowa natural gas prices, Black Hills Energy is working with the Iowa Utilities Board (IUB) to mitigate the costs on customers, including spreading those costs over a three-year period.
“The financial well-being of our customers is important to us, and we recognize how these additional costs can impact a family budget,” Shirley Welte, vice president of Iowa operations, said. “We remain committed to supporting reasonable energy costs. Spreading the cost over the course of 3-years will result in a lessened impact to bills during the 3-year period.”
Beginning this month, those natural gas costs spurred by the February polar vortex will appear as an additional line item on customer bills. Those worried about being able to afford those costs can be enrolled in the company’s budget billing program, a free payment plan that averages the amount you pay each month. It helps mitigate the seasonal increases in bills caused by extreme weather by averaging use over the past year.
Regardless, natural gas customers’ fuel use is passed to them at cost. The issue was that the recent polar event caused the largest natural gas price increases in the last 20 years.
