Centerpoint Energy Ohio Gas Rates Up 41.12%
Bitter January Cold to Drive February Gas Bills Higher
Dayton, OH - OHEnergyRatings.com is alerting Centerpoint Energy customers to a major jump in coming to February natural gas bills. On February 1, Centerpoint raised its default supply rate by 41.12%.
When Winter Storm Fern swept across Ohio in late January, the extreme cold drove up demand for home heating and sent market prices soaring. Growing LNG exports and growing energy needs from data centers compounded energy demand further. By January 28, these combined pressures pushed natural gas prices sharply higher.
- The average natural gas spot market price nearly tripled, climbing to $9.03 per mmBTU.
- At regional gas market hubs in New York and New England, prices spiked above $40.
- The February NYMEX natural gas contract closed at $7.460 per mmBTU - nearly double January's price.
Why Centerpoint Ohio Natural Gas Prices Spiked
In Ohio, a utility's Price to Compare is a pass through price for the natural gas it buys from big suppliers. Because of the soaring gas price, all four of Ohio's major gas utilities will be passing higher gas costs to their PTC customers. For Centerpoint Energy Ohio customers who remain on its Price to Compare, the new rate now stands at $1.0182 per ccf. That's a 41.12% hike from the January rate of $0.7215 per ccf.
For a household on the PTC rate using 100 ccf in one month, it will pay about $101.82 in supply charges on the monthly bill. However, when customers add delivery charges and taxes - often over $100 - the total monthly bill can easily exceed $200. Some households in Dayton and other parts of western Ohio may pay even more.
What Centerpoint Ohio Gas Utility Customers Can Do
OHEnergyRatings.com urges customers to get as far as possible from the CenterPoint Price to Compare rate. RUN, Do Not Walk! By shopping for a fixed-rate plan with a certified natural gas supplier, Centerpoint customers can often find lower prices. Some fixed rate offers are currently up to 35% less than the new PTC rate.
OHEnergyRatings.com provides an apples to apples Ohio comparison of certified natural gas suppliers, so customers can quickly find and lock in a better rate.
When customers lock in the best Dayton natural gas rates for 6 months or even longer they protect themselves from future price spikes. Not only does this help them avoid shocks from other storms this winter but also gas price spikes from LNG exports and data centers that may happen later this year.
About OHEnergyRatings.com
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