Idaho’s Intermountain natural gas customers could see a 25% hike in their bill this summer
Treasure Valley residents who are customers of Intermountain Gas could see a hike in their natural gas prices starting in August.
Intermountain Gas Co., the Boise-based natural gas company that serves over 400,000 customers in Southern Idaho, filed a purchased gas cost adjustment application on May 31 to increase its prices by approximately 25.2%.
If approved by the Idaho Public Utilities Commission, residential customers could see their monthly natural gas prices increase by $10.55 (24.1%) and commercial customers by $51.87 (27%).
The price increase would go into effect on Aug. 1.
Intermountain Gas says the primary reason for applying for the price increase is because of a “significant increase” in the price of natural gas in recent months. The increase comes as a result of lower than average storage levels combined with an increase in demand, along with “other global events” such as Russia’s invasion of Ukraine that has created a rise in natural gas prices worldwide.
“The economic rebound, coupled with a slow ramp-up of drilling activity, also is playing a role in increased commodity prices,” Intermountain Gas executive vice president Scott Madison said in a press release.
There is no financial benefit for Intermountain Gas, nor will the company’s earnings increase, according to the press release. The increase in gas prices is instead to help Intermountain Gas balance out its under-collection balance, which means the company has been paying more for gas than it has been charging its customers.
If the application to change prices was left until later in the year — Intermountain Gas typically files a purchase gas adjustment application annually — price increases for customers would have been even steeper, according to the press release.
How to save money on gas
Intermountain Gas offers a Level Pay program that averages out your monthly bill over the past 12 months and charges you the same amount each month moving forward. The program is designed to avoid higher bills in the winter when more natural gas is used, although customers would also pay the same price through the summer when less gas is needed.
Rebates of up to $1,325 are available for residential homes for installing a smart thermostat and a high-efficiency water heater. Commercial customers can also earn rebates for installing certain heating appliances and kitchen appliances that meet specific Energy Star ratings.
Here are some gas-conserving tips that can help you save money. More information and further tips can be found on Intermountain Gas’s website.
Thermostats: Set your thermostat to a comfortable temperature and lower the temperature between five to eight degrees whenever no one is home. Install a programmable thermostat and program it to match your personal preferences.
Clean or change your furnace filter once a year, and have your furnace tuned by a technician once a year.
Close blinds at night to insulate against cold air, and make sure any cracks are sealed to prevent heat from escaping. Inversely, open the blinds when sunny out to let heat into the house.
Install glass doors on a fireplace to prevent heat from escaping the chimney.
Ensure that hot water pipes are insulated when passing through uninsulated parts of the house.
This story was originally published June 6, 2022 at 11:55 AM.
