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Natural gas prices shoot up along with demand
Murray Hulstein
Wholesale natural gas prices have increased drastically with the cold that’s spread across the country.
Sioux Center Municipal Utilities Manager, Murray Hulstein says they pre-purchase gas to lock in a favorable price, but when you deal with prolonged cold like this you need to purchase more gas without a preset price.
Hulstein says the spot prices on the open market increased from $2 for MMBTU to $200. He says when you need more gas to supplement your contract supply you are at the mercy of the market.