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To reflect estimated changes in the wholesale cost of natural gas as well as a change in the company’s Actual Cost Adjustment factor, Liberty Utilities (Midstates Natural Gas) Corp. d/b/a Liberty Utilities customers will see natural gas rates change under a filing that takes effect Dec.1.
The ACA factor is a mechanism which tracks any over-collection or under-collection of actual natural gas costs over a 12 month period. The net over- or under-collected balances are subsequently either refunded or collected the next year.
Liberty Utilities’ current ACA period (Sept. 1, 2020 through Aug. 31, 2021) includes costs associated with the February 2021 Cold Weather Event (Winter Storm Uri) which had a significant impact on certain natural gas prices. Liberty Utilities stated that the rise in gas prices increased Liberty Utilities’ cost to serve its customers.
In total, Liberty Utilities stated its cost of gas for Winter Storm Uri during this period was approximately $7.7 million as compared to a typical February of approximately $2.2 million, and $21.8 million annually.
The Missouri Public Service Commission has approved a request filed by Liberty Utilities extending the ACA recovery period in the Northeast, West and Southeast Districts from 12 months to three years, thereby spreading the costs from the February 2021 Cold Weather Event over a longer period of time.
Liberty stated that recovering the costs in the typical fashion would be unduly burdensome to its customers.
In Liberty’s Northeast District, residential customers currently pay approximately $0.19 per Ccf (per hundred cubic feet) of natural gas. Under this filing, the rate will increase to approximately $0.60 per Ccf.
The Northeast District includes customers in the Missouri counties of Clark, Lewis, Knox, Marion, Pike, Ralls and Scotland.
The cost of natural gas from wholesale suppliers generally makes up approximately 50 percent to 55 percent of a customer’s total monthly natural gas bill.
The wholesale cost of natural gas (the cost your local natural gas company must pay to its suppliers for natural gas) is not regulated by the Missouri Public Service Commission.
The wellhead cost of natural gas is unregulated and is primarily driven by supply, demand and the weather.
The Missouri Public Service Commission does conduct an annual regulatory review to ensure that regulated natural gas companies make prudent decisions in securing natural gas supplies for their customers.
What you can do to help manage your utility bill:
• Add attic insulation if necessary.
• Place weather stripping around doors, use plastic film covering and caulk windows to keep heat from escaping from your home.
• Change or replace furnace filters each month when dirty.
• Have your chimney checked for blockage.
• Close fireplace dampers when the fireplace is not being used.
• Have your heating system checked and tuned-up if needed.
• Place an approved insulated cover-jacket around the hot water heater.
• Consider getting professional help for any projects that are beyond your capabilities.
• Contact your local utility company to ask about energy saving tips and programs.
Liberty Utilities serves approximately 52,800 natural gas customers in Missouri.