LCPW Discuss The Increase Price Of Natural Gas At Meeting

At last night’s Laurens Commission of Public Works Meeting, General Manager John Young released a statement regarding the increase in the price of natural gas. Young said that the commission has received calls and noticed posts on social media regarding the increase.
The statement said that there are many reasons for the rise in gas prices, one is that the Biden administration has limited the production of gas due to environmental issues and has greatly curtailed the use of public land.
The increase in costs for gas production are being affected by the increased salaries and pay rates for workers, in addition, increases in the price of steel, sand and chemicals used in fracking for natural gas.
Natural gas pricing has increased 400% from June 2022 today at 200% since June 2021
The statement also claims that the depletion of natural gas reserves in the UK, Europe, and Asia, has significantly increased the demand in these areas and put a strain on US natural gas supply.
Since the United States is the world’s largest supplier, soaring high pricing for natural gas in the overseas markets has increased the U.S. sale of gas to these areas by 42%, which leaves less for use in the United States.
Young said in the statement that, “We have been taking steps to limit increases and entered a procurement agreement for 1/3 of our anticipated supply needs for the next 29 years that locks in discounted pricing resulting in a $71,000 saving during the past 12 months
We have also worked with suppliers to adjust delivery charges, saving over $125,000 every year and have modified or natural purchasing process resulting in a savings of over $100,000 every year.
Also, to help keep the cost low for their customers, CPW has been replacing old steel gas lines and meters that has significantly reduced system gas leaks. This is estimated to save approximately $425 000 every year. The commission, as always, wants their customers to be aware of the many ways they can keep their heating bills under control. These are to weatherize to ensure sufficient insulation, weatherstrip windows and doors, have your Heating Ventilation AC system inspected and tuned yearly, and be aware of thermostat settings. CPW customers can also ask about a balanced payment plan.