NU Utilities Price Lock Program 26 Feb 14

The New Ulm Public Utilities Commission on Tuesday unanimously approved a motion to “lock in” natural gas prices for next winter. The price hedging program has been in place in New Ulm since 2004, and serves as insurance to keep consistent pricing on natural gas. New Ulm residents have reportedly seen significant savings on their utility bills over the past 2 months as daily market prices spiked. PUC officials say that without the price lock in place the costs would have been unbearable to the average consumer last month. The motion approved unanimously on Tuesday will continue the 70% price locking program from November 2014 through March of 2015.