Increased Wholesale Natural Gas Prices Lead to Rate Adjustment for MGE Customers

KANSAS CITY, Mo., Nov. 9, 2016 /PRNewswire/ -- Wholesale natural gas prices have increased during the past year and this will necessitate a natural gas price adjustment for Missouri Gas Energy (MGE) customers. Approved by the Missouri Public Service Commission today, MGE customers would pay an average of $0.49 per Ccf* for the cost of gas. The change reflects an increase in the prices charged by MGE's wholesale natural gas and pipeline transportation suppliers during the past year. Compared to last winter's rates, this would mean an increase of about $2.24 per month, or 3.7 percent of the overall bill for a typical residential customer. Weather and other factors that affect customer usage may also impact the customer's bill.

"Natural gas remains the most cost-effective heating source for homes. We work hard to manage all of our natural gas supply resources in the most efficient manner possible and pass savings directly on to customers. In fact, this time last year, we were able to lower the rate for customers because we were paying lower prices," said Steve Lindsey, president of MGE.

For customers looking to pay the same amount on their gas bill each month, MGE offers budget billing to all customers. The free service provides customers with consistent bill amounts throughout the year. Customers can enroll today and the payment plan will start on their next billing cycle. To sign up, call 816-756-5252 or toll-free 800-582-1234.

This rate appears on bills as "Cost of Gas" and accounts for more than half of a typical residential customer bill. The remaining portion includes pipeline maintenance and upgrade costs, as well as state and local taxes that MGE incurs to deliver that gas safely and reliably to homes and businesses.

*Ccf is the volume of 100 cubic feet of natural gas.

ABOUT MISSOURI GAS ENERGY
Missouri Gas Energy has provided natural gas service to the residents of the Kansas City metropolitan area and western Missouri for nearly 150 years. Now owned by Laclede Gas Company, a subsidiary of Spire (NYSE:SR), we are part of the largest gas distribution company in Missouri, delivering natural gas to more than 1.1 million customers. Missouri Gas Energy serves residential, commercial and industrial customers in 30 counties. For more information, please visit www.MissouriGasEnergy.com.

Media Contact: Jenny Gobble
855-852-1500 toll-free
[email protected]

SOURCE Missouri Gas Energy

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