Black Hills Energy says customers can expect to see lower energy prices as we approach the heating season. Spokesperson Brandy Johnson tells KLIN News U.S. natural gas costs were four times lower in September compared to the same time last year. Natural gas prices were above $9 in September 2022 compared to $2.55 at the same time in 2023.
The lower natural gas prices customers benefit from are a result of record-high natural gas production which was 2.5% more than last year. National storage for natural gas was also 16% higher than the same time last year and 7% above the five-year average. Looking ahead, regional gas prices for this winter are tracking closely with NYMEX futures and are currently projected to be in the $3-$6 range.
In addition to the lower natural gas prices, Johnson says there are some additional ways customers can use less energy. Those tips include set the thermostat as low as is comfortable on cold days. A smart or programmable thermostat can make it easy to set back your temperature.
If you have a heat pump, maintain a moderate setting or use a programmable thermostat specially designed for use with heat pumps. Run complete loads of laundry and dishes to avoid using more hot water and energy than necessary. Skip the drying cycle on your dishwasher. Instead, prop the door open once dishes are washed and allow them to air dry.
Customers are also encouraged to use weather stripping and caulking around doors and windows to seal any holes or gaps, reducing energy waste. Turning down your hot water heater to 120 degrees will ensure the water heater is insulated properly. Water heaters are the second largest energy user in a house, accounting for about 18% of an energy bill.