MLGW says bills could increase up to 40% this summer

Published: Jun. 30, 2022 at 10:28 AM CDT

MEMPHIS, Tenn. (WMC) - The summer heat has returned along with some grim news from Memphis Light, Gas and Water.

MLGW is warning customers that utility bills could go up substantially this summer. The company says customers should expect a significant increase from June to July relative to last year’s prices.

MLGW officials say the increases are occurring with utility companies across the country.

“Everything is going up, our groceries, gas but our paychecks are not going up,” said MLGW customer Karen Johnson.

Johnson is one of more than 430,000 MLGW electricity customers who will see their bill increase an estimated 20 to 40% or $30 to $60 more per month between June and September.

Increasing Tennessee Valley Authority fuel rates and increasing summer energy consumption are the factors that will cause electric bills to skyrocket, MLGW says. Dana Jeames, MLGW chief financial officer, says natural gas costs have about doubled in price compared to last year.

Another reason for the increase, according to MLGW, is the sweltering month of June had Mis-Southerners cranking up their air conditioning units. WMC Action News 5 Weather team says we had six days in June where temperatures were at or above 100 degrees, five of those days broke previous records.

“So, when you couple higher consumption mainly due to air conditioning load with higher prices you get kind of a double whammy of bills,” said Jeames.

To conserve energy, MLGW recommends setting thermostats to 78 or above.

MLGW officials also suggest closing your blinds to limit sunlight into your home and sealing up any open spaces around doors or windows that might be allowing cold air out and warm air in.

MLGW says they expect utility bills to decrease by this fall.

Copyright 2022 WMC. All rights reserved.

Click here to sign up for our newsletter!

Click here to report a spelling or grammar error. Please include the headline.