NY Mills council approves lowering of gas rates
The city of New York Mills will be lowering its gas rate base by $1 beginning on February bills.
Natural gas rates have been falling nationwide, as the national supply is higher than the demand, due to technology making mining gas more efficient.
"Rates are at a ten year low," said City Clerk Darla Berry.
Because of low rates, NY Mills decided to lock in a third of its gas use for one year, and a third of its gas rate for two years. Two-thirds is the most a city is allowed to lock in.
NY Mills' gas management consultant, Constellation New Energy, helps the city decide when to lock in rates.
The city has been floating the rates until now, waiting for them to reach a low point.