Gas Prices FAQ
How does MGE protect customers from the ups and downs of natural gas prices?
MGE:
- Purchases about one-third of our gas supply in summer when prices are typically lower and stores it underground for use in winter.
- Invests in a financial tool that hedges the cost of approximately one-third of our gas supply.
- Purchases about one-third of our gas supply at current market prices.
How can customers save on their natural gas bills?
Use energy wisely. You can reduce the amount of natural gas you use and save money.
- Keep your thermostat at 68°F.
- Lower it at night and when you're away from home (55° lowest setting).
- You save 1% for every 1° decrease over eight hours.
- Warmer settings are recommended for homes with the elderly and infants.
- With a setback thermostat, programming different settings becomes a convenient way to save energy without sacrificing comfort.
- Keep registers and cold-air returns clear of furniture and drapes.
- Close storm windows and latch them tight.
- Replace missing storm windows or install plastic film.
- Close drapes at night to keep heat in.
- Put an interior cover on wall air conditioner units in the winter.
- Remove or cover window air conditioners.
- Set water heater temperatures at 120°F to 125°F and install water-saving showerheads and aerators.
- Fix water leaks.
- Wash clothes in cold water.
- Call the MGE Home Energy Line at (608) 252-7117 with questions or for other energy-saving ideas.
How are natural gas prices determined?
Natural gas is traded as a commodity on the New York Mercantile Exchange (NYMEX). As with any commodity, prices can fluctuate depending on supply and demand and on trading activity.
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