Regional and global market forces continue to edge electricity and natural gas prices higher for April. Central Hudson’s residential price for electric supply has risen slightly from 11.6 cents in March to 13.6 cents, effective April 11. As previously announced, natural gas prices rose from 91.6 cents per hundred-cubic-feet (ccf) in March to 97.1 cents per ccf in April, effective April 1. Supply prices stated on bills and overall bill impacts will vary for individual customers depending on their billing cycle and energy usage.

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. Higher prices are attributed to a recovering economy, energy supply constraints, strong energy demands and global events.

Recent natural gas futures on the New York Mercantile Exchange (NYMEX) continue to show elevated prices through next winter. NYMEX futures can be used as a tool to help forecast future gas prices, which also has an impact on electricity prices.

Supply prices are variable and are subject to market forces. Central Hudson hedges energy supply purchases to help dampen market volatility.