Natural Gas and Electricity News

GAS AND ELECTRICITY NEWS UPDATED
ELECTRICITY RATE GOES UP!
February 4, 2025
GAS:

Dick Goddard always said that on February 14 the average temperature starts going up. Now there’s some pleasant news for you although the groundhog claimed 6 more weeks of winter. Oh well, the fuzzy rodent is usually correct. Just ask Bill Murray.
We have been predicting for more than a year that the variable rate for gas would be less than the going fixed rates. And that’s been true. Dick Goddard also said that a weather forecast more than three days out wasn’t worth the isobar it was written on. With that in mind though the current futures indicate that the variable rate should be good until December.
Meantime, natural gas futures rates are gradually going up. That could also mean that sooner or later fixed rates might go up as well. If you’re conservative that could mean playing a guessing game and taking NOPEC’s fixed rate at $4.25. If the guess is wrong NOPEC does not charge to switch back to variable.
ELECTRICITY:
If you have NOPEC for 6.49 cents (0.0649), fixed, it’s good until May. If you have 6.5 cents, fixed, it lasts until 2 years after you took that rate.
NOPEC’s current fixed rate has gone up to 8 cents (0.08) for two years. The Illuminating Company’s “PRICE TO COMPARE” is also 8 cents until the end of March. Electricity will probably keep going up and as we have warned you there will be a 2-cent increase on the delivery charge in June. You may have to set the thermostat higher than you’re accustomed to for summer air conditioning. And as we have told you the culprits are the electricity sucking “data centers” to accommodate AI.
Till next time.
Finally, when in doubt, always call Ted with questions. 440-526-2606.
The opinions expressed are those of Ted Lux and do not necessarily reflect those of Mayor Kingston or City Council.