Tracking Utility Costs this Summer
Cedar Falls Utilities cautions customers that high natural gas market prices will continue to impact gas and electric bills.
Demand has gone up due to the increased export of liquefied natural gas to other counties. Hot weather in the U.S. is also increasing the demand for electricity and natural gas which is used to fuel many generating plants. This combination of increased demand and a limited supply of natural gas has driven up the market cost.
The market cost of natural gas flows through to customers in the Purchased Gas Adjustment (PGA) on the gas portion of the utility bill. In the PGA CFU passes on to customers only the cost for natural gas and related pipeline fees without markup.
Natural gas prices are forecasted to remain high throughout the year. While most Cedar Falls Utilities customers use less natural gas in the summer when furnaces are off customers should prepare for the impact on summer gas usage and future heating seasons.
Electric market prices are also forecasted to be significantly higher than recent years this summer. A growing portion of our country’s electricity is generated by natural gas. So when natural gas prices are high electric market prices also tend to go up.
Energy market costs are reflected on utility bills in the Energy Cost Adjustment (ECA). In the ECA CFU passes on to customers only the cost to produce or purchase electricity without markup.
The good news is that CFU owns generating assets that can help control electric costs for customers when market prices are extremely high. CFU continues to own and operate the Streeter Station power plant and two natural gas turbines in Cedar Falls. In addition CFU owns shares of large coal-fired power plants in western Iowa and maintains a community solar array. Plant ownership reduces the amount of energy CFU must buy to supply to customers when prices are extremely high.
Take Steps to Make Your Home More Efficient
There are steps you can take to reduce energy usage and save money. CFU offers cost-sharing rebates to help. Learn more at cfu.net/save-energy.
Resources are available if you need assistance with energy costs. Any customer facing financial hardship should call customer service at 319-268-5281.
Sign up for Budget Billing
Customers can also sign up for CFU’s budget billing plan to level out the seasonal ups and downs of heating and cooling costs. For more information and to sign up call customer service at 319-268-5280.
Learn more about payment options here.
Energy Saving Tips
- Turn your thermostat up 3 to 5 degrees and use fans.
- Close blinds and drapes during the day to block out the sun.
- Turn off any unnecessary electrical devices.
- Use heat-generating appliances like ovens dishwashers and clothes dryers early in the morning or late in the evening when temperatures are cooler.