IGU General Manager Elena Sudduth spoke to the Fairbanks North Star Borough Committee of the Whole Thursday evening.
Published: Jul. 19, 2024 at 5:27 PM AKDTFAIRBANKS, Alaska - The Interior Gas Utility delivered its quarterly update to the Fairbanks North Star Borough Committee of the Whole ahead of an upcoming paradigm shift in the utility’s natural gas supply. Here’s what you need to know.The volumetric rate on IGU residential and business customers’ bills grew 8.57% starting in July after the board passed its annual budget, with the increase set to reflect on balances in August.
“We are going to have significant increases in the cost of transportation. We are going up the Dalton Highway, which is a much more challenging highway than the Parks Highway has been historically, in addition to the fact that it’s 150 miles further,” Sudduth said. “Anything that we purchase above our Minimum Volume Commitment ... it comes at about half the price for the liquefaction portion,” Sudduth said.
That’s according to the most recent of IGU’s biweekly surveys, which average the per-gallon cost of delivered No. 1 heating oil from six Fairbanks companies. The July 11 survey found an average of $4.25 per gallon. Six of those 15 have arrived from the Texas manufacturer, with the first trailer reaching the Golden Heart in June.
Each trailer carries 12,500 gallons — enough to supply IGU’s customer base with gas for a day in the summer, but about one eighth of what the utility needs to cover a day when the Interior dips down to its coldest winter temperatures.The utility serves more than 2,500 homes and businesses and had set a goal to add 600 new service lines this construction season.Sudduth said it might be the first time the utility doesn’t hit its self-prescribed benchmark since finishing up its 5.
Liquefied Natural Gas Lng Fairbanks Lng
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