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The Kansas Corporation Commission approves a financial order and settlement agreement with Kansas Gas to offset expenses associated with the February 2021 winter storm.

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News Tech: Customers of Kansas Gas Service will soon notice a $5 monthly fee added to their bills as compensation for the winter storm of 2021.

According to KCC, clients will save between $35 million and $46 million by using low-interest securitized bonds as opposed to conventional recovery rates.

According to the Kansas Corporation Commission, on Thursday, August 18, it authorised a financing order and settlement agreement that allow Kansas Gas Service to issue securitized bonds in order to recover $328 million in deferred costs from the winter storm of 2021.

The Commission stated that it will not be determined how much in winter weather recovery charges KGS customers will pay on their monthly bills until the bonds are released. It stated that factors include the term length and interest rate, which are determined by the state of the market.

Later in 2021, the Commission indicated that the Kansas Legislature passed the Utility Financing and Securitization Act, which allows utilities to use securitized bonds to pay for extraordinary costs more favorably than traditional financing.

KCC said wholesale natural gas prices are not regulated by members or any other government entity. It said Congress deregulated natural gas prices back in the mid-1980s which means prices are market driven by supply and demand. The Commission stated that any proceeds recovered by KGS as a result of state or federal investigations into possible market manipulation, price gouging, etc., will be passed on to customers.

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