Natural gas price shocks will be felt in Minnesota
It will be months before we feel the impact of volatile wholesale natural gas prices, but some of those costs will be passed along to consumers Author: John Croman Updated: 2:07 AM CST February 25, 2021
MINNEAPOLIS The Minnesota Public Utilities Commission launched a formal investigation into sudden spikes in natural gas wholesale prices that forced utilities to pay exorbitant amounts to purchase more supplies of that fuel.
CenterPoint Energy and Xcel Energy both are working with the PUC and suppliers to find ways to soften the impact, but part of those costs will eventually be passed directly to consumers through the rate setting process.
Many Minnesota residents felt empathy towards the people of Texas dealing with snow, ice, freezing temperatures, no heat and busted pipes, but this fluke storm could have a ripple effect on the wallet of some homeowners in the state.
We were experiencing our own deep freeze at the time as well putting a big strain on the natural gas supply. Per the Star Tribune (paid subscription required) CenterPoint Energy said the extra charges could range from $300 to $400 on average, with Xcel Energy predicting about a $250 to $300 hike, MERC $225 to $250, and Great Plains Gas around $200 to $300.
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Feb 25, 2021
CLOQUET, Minn. (AP) Jason Goward was overjoyed to get a high-paying job on Enbridge’s Line 3 pipeline project.
The job, clearing ground with a contractor for the Canadian energy company, meant he could at last pay child support for his two young sons. He could buy groceries, pay for heat.
And maybe, just maybe, he could dig his way out of poverty.
“I thought if I worked for a couple of years at this, I could finally get ahead a little bit,” said Goward, 37, a citizen of the Fond du Lac Band of Ojibwe. “I didn’t think about the impact of the pipeline on our lands and way of life.”
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