Council will discuss natural gas prices Thursday

Wednesday, February 12, 2014

The Wilson City Council has called an emergency meeting Thursday morning to discuss possibly reducing natural gas prices.

The meeting will begin at 10 a.m. in the City Manager’s Conference Room, City Hall Annex, 104 Goldsboro St. E. City Council members will be able to participate via conference call if weather conditions prevent them from traveling.

The meeting is in reaction to dramatic and substantial increases in the cost of transporting natural gas, which occurred during unusually cold weather in January. The added expense to Wilson Energy was in excess of $1 million.

City Council agreed earlier this month to use $500,000 from reserves to avoiding passing all of that cost along to Wilson Energy natural gas customers, but Council could decide Thursday to increase that payment and further reduce rates. Under the City’s current rate structure these costs would be passed automatically to its gas customers in the next utility billing cycle.  In order to avoid this impact, the City Council would have to take action no later than Thursday morning.