(Memphis) Once winter hits, get ready to lower your thermostat. Memphis Light Gas and Water says six years of declining natural gas prices may now be leveling out and a small rise in prices could be beginning.
Factor in a possible colder winter this year and you can expect to be paying more on your utility bill. The Energy Information Agency claims the average cost increase will be around five-percent.
People all across the Mid-South experienced big savings last winter when it came to paying their utility bill.
“Well last year we had a great combination of low gas prices plus a very warm winter and customers saved about $110 over the course of last year,” said MLGW’s Glen Thomas.
But that savings may need to be put towards this winters utilities, Thomas says.
As temperatures go down he says Natural Gas prices are slightly shifting up, “The government has announced that they expect a more traditional winter in terms of temperatures so they're expecting customers to increase their consumption of gas by about five percent."
Thomas says there are practical ways to try to offset the cost.
He recommends getting your heating unit serviced by a professional now, before winter gets here, “It’s now also a good time to look for areas in your home that air might be escaping; windows, doors, make sure you've got proper insulation and survey your home and take some steps to keep that warm air in your house."
Thomas also recommends keeping your thermostat at 68 degrees or lower to get the most bang for your buck, “Each degree over that can add about four percent to your bill during the winters so always a good idea to keep it at 68 or below."
Thomas claims the slight rise in gas prices is no cause for concern. He says natural gas prices right now cost half of what they did five years ago.
More Info: http://www.mlgw.com/residential/wintertips