ALBANY, N.Y. (NEWS10)- Central Hudson said prices for natural gas and electricity continue to climb due to regional and global market factors. The company said electricity rose from 11.6 cents in March to 13.6 cents as of April 11. The price of natural gas rose from 91.6 cents per hundred cubic-feet last month to 97.1 cents as of April 1.
Customers can expect to see these prices reflected in their bills. However, overall impacts on bills will vary depending on individual customer’s usage and billing cycle.
Central Hudson said higher prices are due to a recovering economy, energy supply limitations, strong demand for energy, and global events like the war in Ukraine. They also said the New York Mercantile Exchange shows higher natural gas prices through next winter which means higher electricity prices.
“Central Hudson purchases electricity and natural gas on behalf of full-service customers on the energy market and does not mark up the price of energy supply. The utility hedges energy purchases to dampen market volatility, however, market forces continuously drive changes in energy prices,” they said Monday.