And yet ...
We don't have natural gas (all electric home with heat pump/central air) and it costs us between $6 and $7 a day (annualized) for electricity here in the upper Midwest.
But our local natural gas supplier (Duke Energy) has this on its website (completely inexplicable to me, based on everything I read in the news):
Reasons for Increased Gas Costs
What is the outlook for natural gas prices this winter?
Natural gas prices remain sensitive to weather, to a limited extent in terms of natural gas supply (such as a hurricane that may affect production in the Gulf of Mexico) and far more so in terms of natural gas demand (such as cold weather that increases usage for home heating). In fact, weather is often the biggest factor in how much residential customers pay for natural gas during the winter.
Winter gas prices are forecasted to be higher than we've seen in past years. Despite the increase, Duke Energy still remains one of the lowest gas providers in the region.
Is this occurring only in our area, or nationwide?
The price of natural gas is increasing throughout the United States.
Are my rates going up?
Itís not your natural gas delivery charge thatís increasing, but the cost for Duke Energy to purchase gas from its suppliers. This cost is referred to as our gas cost recovery charge that changes monthly. Regulators allow us to pass our prudently incurred gas costs along to customers on a dollar for dollar basis, without any markup.
Is this increase permanent or temporary?
It is possible that natural gas prices will remain high over the next couple of years, depending on weather and new supplies of gas coming into the market.