Oklahoma Natural Gas Supplier Announces Price Cut

It seems like the price of natural gas has been abnormally high in the last few years, and this past winter was no different. Even as the price of natural gas plummeted recently, we've seen fifteen-year highs since last summer.

Most Oklahomans have had complaints about the natural gas prices regardless of their supplier. OG&E, OneOK, local municipalities, and the newest utility company in the state--Summit Utilities.

Recap: Summit bought out CenterPoint Energy's consumer base and distribution assets in Oklahoma and Arkansas last year. The rollout to finalize this transition for consumers didn't go nearly as easily as the majority of people, including Summit Utilities expected.

There were website issues in retrieving account information and payment details, billing issues to the end user, and incredibly long wait times due to understaffing on Summit's part. It was a fiasco that Summit CEO Kurt Adams claims should now be fixed and working as it should.

Get to the price cut...

In a recent video that was sent to most/all Summit Utility customers, Adams announced not only their investment in additional customer service representatives but also casually dropped a line about the price cut to the cost of our natural gas probably trying to earn a glimmer of praise.

The price of natural gas from Summit was lowered 44% on April 1st and will remain there for now.

People have not been shy about their complete and utter disgust with the price of natural gas lately, and while Summit's CEO would like you to assume they're doing a big favor, it's actually the standard operating procedure.

Supply and demand.

Natural gas rates change twice each year. You generally pay a higher price for natural gas during the colder months because more of it is needed.

Just the same, when it warms up outside and the natural gas demand subsides, it becomes cheaper. Basic supply and demand.

How the price reduction will affect you?

It won't. As we warm up, you'll use less and less natural gas anyway, so the savings are negligible. Even if you're on a level-pay type program, you'll still have to pay whatever the rate is you're carrying over month to month.

We really won't know what to expect until the price changes again in November, when utility providers bargain new seasonal rates... Spoiler, it'll go back up. There's no telling if it'll be as high as it was this past winter, but it would be reckless to assume it would stay the same or become cheaper.