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How Will the Natural Gas Shortage Affect Our Bills?

I break down the natural gas shortage and how it will affect our bills.

Today I want to talk about our MidAmerican bills because, as they say in “Game of Thrones”, winter is coming. MidAmerican has announced that gas costs are rising due to a shortage of natural gas worldwide. With winter on the horizon, I figured it’s a good time to go over what these bills say and what this increase might cost you.

With a MidAmerican bill, you can either pay a 24-month average or pay monthly based on what you’ve actually used. A lot of times, we will pull the 24-month average for our clients so they can see what the cost looks like.

When you look at the actual bill, there are three categories: electric usage, gas usage, and franchise fees. MidAmerican said that gas prices will rise about 40% to 90% and vary from month to month depending on how much access they have at that time.

“The natural gas shortage won’t affect your utility bill too much.”

How will this affect your bill? The average utility bill is about $150 a month. This particular bill from last month had $10 in gas usage, $100 for electricity, and about $30 for franchise fees. So don’t be alarmed about these price increases; it won’t affect your bill too much. You might see an increase of $30 to $40. 

With that said, it’s also winter, so how do you prepare your home or investment properties for the weather? Make sure you have enough attic insulation. People recommend 12 to 16 inches of blown-in cellulose. If your property is older, consider having someone add insulation to the walls as well. 

Get your furnace serviced, and get your windows checked. I’ve had to put plastic over windows to keep the drafts out during the coldest months.

As it gets colder and inflation increases, prices will go up. However, it’s important to understand that the rise in natural gas prices won’t affect our bills that much. If you have any questions about this or another real estate topic, feel free to call or email me. I would love to help.

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Bought a Single Family home in 2019 in Pleasant Hill, IA. Jasmina was awesome to work with! She is very knowledgeable when it comes to the Des Moines market and what different areas have to offer. Her communication was always fast, we were confident we made the right choice with our home. We highly recommend Jasmina to anyone looking to buy or sell!
Colin McCall