COLUMBUS, Ohio — A recent Arctic blast contributed to a spike in natural gas prices, prompting Columbia Gas of Ohio to raise its default supply rate by 35% on Feb. 1, according to a press release issued by OHEnergyRatings.com.
The release, distributed Feb. 20 through EINPresswire, said extreme cold at the end of January drove up commodity prices, leading to higher February bills for residential customers.
OHEnergyRatings.com reported that Columbia Gas Ohio’s “price to compare,” or default supply rate, increased to $1.071 per hundred cubic feet. The website said customers using 100 ccf per month would pay $107.10 in supply charges alone, with delivery charges and taxes potentially pushing total monthly bills above $230.
The press release attributed the price surge to increased winter demand, liquefied natural gas exports, and energy usage from data centers. It also cited market data, stating the natural gas spot market average price rose to $9.03 per mmBTU on Jan. 28, while the February NYMEX natural gas contract settled at $7.460 per mmBTU.
Because the “price to compare” is a pass-through rate tied to commodity costs, OHEnergyRatings.com said customers who remain on the default utility supply will see the higher charges reflected in their bills.
In the release, OHEnergyRatings.com urged customers to consider switching to fixed-rate plans offered by certified natural gas providers, claiming some fixed rates are currently about 40% lower than the utility’s default rate.
