Natural gas prices increase 100 fold due to frozen wells in Oklahoma, Texas

KIRKSVILLE, Mo. — The Arctic cold snap that is gripping most of the country is causing a major demand for electricity and natural gas, which is also used to produce electricity.

To make matters even worse, frozen natural gas wells in Oklahoma and Texas are causing a shortage of available natural gas, leading to an increase of as much as 100 times the typical purchase price, just since Friday.

In response, Liberty, the Missouri Public Utilities Alliance, Alliant Energy and Mid-American are all strongly urging you to take steps right now to reduce your energy usage.

Suggestions include setting your thermostat at 65 degrees or as low as comfortable.

The elderly and those with medical conditions complicated by the cold should not lower their thermostat.

You are also encouraged to wear layers of clothing around the house, turn off non-essential lights and unplug things like computers, TVs, chargers and printers when they aren’t being used.

If you feel a draft coming under a door or around a window, you may use a rolled up bath towel to help block the cold air from entering your home.

As temperatures rise over the next few days, the issue of the frozen natural gas wells is expected to resolve itself.

How much of the extreme spike in natural gas prices will be passed on to you the customers will vary from company to company.