For Release: 10/15/2021
Nationwide natural gas price spike expected to mean higher heating bills this winter
WAUKEGAN — As we head into winter, North Shore Gas is letting customers know that their heating bills will likely rise as the temperatures fall — due to a nationwide spike in natural gas prices.
The price of natural gas has more than doubled this year and currently sits at the highest level in a decade. The increase is due mainly to tight supplies and a worldwide increase in demand for natural gas.
An analysis done by North Shore Gas predicts the typical residential customer will pay $50 more a month this winter compared to last winter. The analysis assumes typical winter weather. Natural gas is a pass-through expense; North Shore Gas does not earn a profit on the gas it purchases for its customers.
Working on behalf of customers
North Shore Gas uses a proactive, multi-pronged approach to make sure customers have the reliable and affordable energy they need, while limiting the impact of sudden price changes. The company buys and stores gas when it is typically lower priced, locks in guaranteed natural gas contracts at fixed prices, and purchases gas in the market. This approach will lower this winter’s gas costs for North Shore Gas customers by an estimated 20%.
Assistance available
In order to help customers in the greatest need, bill payment assistance is available through the Low Income Home Energy Assistance Program (LIHEAP) and the Share the Warmth program. To see if they are eligible and apply, North Shore Gas customers can call the Community Action Partnership of Lake County at 847-249-4330, or go to caplakecounty.org.
Separate from this financial assistance, North Shore Gas will work with any customer to arrange a payment plan that best fits their needs, and to set up Budget Billing that keeps bills stable from month to month. Customers can call North Shore Gas or go to northshoregasdelivery.com to look into available options.
Managing energy use
Customers can take steps to manage their energy use by turning down their thermostats, using programmable thermostats, sealing gaps around windows and doors, and scheduling an annual furnace tuneup. North Shore Gas also offers free energy efficiency consultations. For more low and no cost energy-saving tips, go to northshoregasdelivery.com/savings/.
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North Shore Gas, a subsidiary of WEC Energy Group (NYSE: WEC), is a regulated natural gas delivery company that serves more than 163,000 residential, commercial and industrial customers in 54 communities within the northern suburbs of Chicago. You can find more information about natural gas safety, energy efficiency and other energy related topics at northshoregasdelivery.com. Follow us on Twitter and Facebook @northshoregas.
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